A Note from Jason Queen
Most people looking at the condo market in the Triangle are seeing rising prices. But what they’re not seeing—and what the data from March 2024 to March 2025 is clearly showing—is that we’re in the middle of a fundamental shift in how high-end urban living is valued in Raleigh.
The Greater Downtown Raleigh High-End Condo Market Isn’t Just Growing—It’s Rewriting the Playbook
For years, Durham held the edge when it came to new construction condo pricing. But today, Downtown Raleigh is not only closing the gap—it’s leading the conversation.
- New developments in The Greater Downtown Raleigh are now pushing past $1,100 per square foot
- Compare that to just a year ago, when most high-end condos Inside the Beltline were closing around $586 per square foot
- Active listings and pending sales are setting entirely new benchmarks; not just in price, but in what buyers expect
This isn’t just a price trend, it’s a market shift that reflects something deeper.
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What’s Actually Driving This Shift?
It’s easy to chalk it up to demand, but the real story is more nuanced. Here's what the data tells us:
- Downtown Raleigh’s urban core is seeing a new wave of demand from buyers seeking more than just a home—they want lifestyle, location, and long-term value
- Buyer expectations have evolved dramatically; premium finishes and luxury amenities are no longer negotiable
- Inventory is shaping up differently. Developers are more confident than ever, willing to test new pricing ceilings and the market is meeting them there
Want the Full Picture?
We’ve broken down the trends and the data so you can see exactly what’s changing—and why it matters. Whether you’re a buyer, seller, developer, or just watching the market, this is the moment to get informed. From active listings to pricing trends, the data paints a clear picture of a market in motion.
Take a look below and see how the market is growing!
Active Listings
The Greater Downtown Raleigh high-end condo market is heating up fast, with active listings averaging $656/sq ft and climbing as high as $1,022/sq ft—putting it within striking distance of Greater Downtown Durham’s peak at $1,163. While Durham still leads on average, Raleigh’s top listings are now proving it’s ready to compete at the luxury level.
Living Area Metrics (Sq Ft)
| Living Area Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg Living Area (sq ft) | 1,283 | 1,723 |
| High Living Area (sq ft) | 1,952 | 3,755 |
List Price Metrics ($)
| List Price Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg List Price | $895,718 | $1,505,693 |
| High List Price | $1,995,000 | $4,369,900 |
Price/Sq Ft Metrics ($)
| Price/Sq Ft Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg Price/Sq Ft | $656.64 | $829.76 |
| High Price/Sq Ft | $1,022.03 | $1,163.75 |
Pending Listings
Greater Downtown Raleigh is now outperforming Durham in the high-end condo market, with under-contract properties averaging $1,112 per square foot and pushing up to $1,122/sq ft—surpassing Durham’s top-end figures. It’s a clear indicator that Raleigh is commanding top dollar in today’s high end landscape.
Living Area Metrics (Sq Ft)
| Living Area Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg Living Area (sq ft) | 2,540 | 1,886 |
| High Living Area (sq ft) | 2,719 | 5,484 |
List Price Metrics ($)
| List Price Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg List Price | $2,825,000 | $1,756,414 |
| High List Price | $3,000,000 | $6,039,900 |
Price/Sq Ft Metrics ($)
| Price/Sq Ft Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg Price/Sq Ft | $1,112.88 | $906.65 |
| High Price/Sq Ft | $1,122.41 | $1,101.37 |
Closed Listings
The gap between Greater Downtown Durham and Raleigh’s closed condo sales is tightening. Durham’s top closings hit $696/sq ft, while Raleigh isn’t far behind at $668/sq ft—a clear indication that Raleigh’s resale market is gaining serious momentum, especially at the high end.
Living Area Metrics (Sq Ft)
| Living Area Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg Living Area (sq ft) | 1,252 | 2,080 |
| High Living Area (sq ft) | 1,678 | 2,410 |
List Price Metrics ($)
| List Price Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg List Price | $738,436 | $1,361,667 |
| High List Price | $1,058,762 | $1,495,000 |
Price/Sq Ft Metrics ($)
| Price/Sq Ft Metrics | Greater Downtown Raleigh | Greater Downtown Durham |
|---|---|---|
| Avg Price/Sq Ft | $588.69 | $660.13 |
| High Price/Sq Ft | $660.00 | $757.35 |
Explore the Numbers: Building-by-Building Condo Data
What Does This Mean For You?
For Buyers: The new construction condo market in Greater Downtown Raleigh and Durham has seen remarkable growth over the past year. This sharp rise reflects strong demand and growing appeal among buyers in the Triangle. Our team at Monarch Realty Co. has the expertise to guide you through this competitive landscape, ensuring you find a condo that meets your needs and investment goals.
For Sellers: With the significant appreciation in condo values, now is an opportune time to consider selling. Strategic pricing and targeted marketing are essential to capitalize on this trend. Monarch Realty Co. specializes in downtown condos and can position your property to attract qualified buyers, maximizing your return in this dynamic market.
For Developers: The rapid increase in price per square foot indicates a robust demand for downtown living spaces. Monarch Realty Co. offers comprehensive market analysis and insights to help you identify opportunities and develop projects that align with current buyer preferences, ensuring your developments meet market demands and achieve success.
Partner with the Downtown Condo Experts
Monarch Realty Co. is deeply immersed in the Greater Downtown Raleigh and Durham condo markets. Whether you're looking to buy, sell, or develop, our team provides the expertise and personalized service to navigate this evolving market effectively. Contact us today to leverage our knowledge and experience for your real estate endeavors.