Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Downtown, Southern Pines
September 26, 2026
(910) 395‑1000 · buddyblake.ai
Downtown Southern Pines: 1 in 3 Listings Didn't Sell
In the Downtown neighborhood in Southern Pines, 57 homes ended over the last 12 months, and 39 sold. The typical home that sold took 51 days and brought 96.7% of its first asking price, but 1 in 3 listings didn't sell at all, up from 20% the year before.
Which pile do you want to be in?
Out of every 20 homes listed in Downtown, Southern Pines over the last 12 months, the solid houses sold. The outlined ones expired, were withdrawn or were canceled.
Priced right from day one: sold in a median 23 days. Needed price cuts: 85 days, and sold for 92.7% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,803 |
| Property taxes | $129 |
| Homeowners insurance | $250 |
| Upkeep | $438 |
| Utilities | $250 |
| About | $3,870 |
About $3,870 every month the home sits.
Listings that didn't sell stayed on the market a median of 198 days — roughly $25,100 in holding costs, and the home still didn't sell.
An example, not a quote: 20% down, 30-year fixed at 7.03% (Freddie Mac average, 2026-09-24); Moore County rate 0.295 per $100 (NC Department of Revenue, 2025-26 county rates); town taxes add more inside town limits; insurance, upkeep (1% of value a year) and utilities are typical estimates. If your home is paid off, the mortgage line drops out — the rest still adds up.
When contracts fall apart
Contracts that fell apart
19%
9 of about 48 before closing
Those homes that later sold
67%
33% never sold
Sold vs. first ask after a fall-through
88.5%
vs. 97.0% on the first contract
Days to sell after a fall-through
152
vs. 37 on the first contract
The MLS doesn't record why a contract ends. In our experience the most common reasons are home inspection findings, appraisals that come in below the price, and buyer financing. How buyers paid on closed sales: conventional 28% · cash 5% · VA 59% · FHA 0%.
If you're selling
- Homes priced right from day one sold in a median of 23 days, and 17 homes did it that way.
- Listings that needed cuts took a median of 85 days and still only landed 92.7% of asking, with a median price cut of 6.0%.
- Waiting has a cost. Listings that never sold sat a median of 198 days.
- 1 in 5 contracts fell apart. Most often inspection, appraisal or financing issues are the reason, industry-wide. Homes that had a contract fall apart and later sold took a median of 152 days and closed at 88.5% of asking, versus 97.0% for a first-time contract in 37 days.
If you're buying
- 1 in 3 listings in Downtown Southern Pines didn't sell, so there's room to negotiate on homes that sit.
- The typical sold home went for 96.7% of first asking price, and 67% of sales closed below that first ask.
- Financing mix here: 59% VA, 28% conventional, 5% cash, 0% FHA.
Did you know?
- On a home priced like the example at $525,000, with a 7.03% mortgage rate, the estimated monthly carrying cost is about $3,870.
- Sellers whose homes sat unsold faced an estimated $25,100 in carrying costs over that time.
- 67% of homes where the first contract fell apart went on to sell later, but 33% never sold at all.
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For sellers
Listings that didn't sell
32%
up 11.6 pts from a year ago
18 expired, withdrawn or canceled vs 39 sold
Sold vs. first asking price
96.7%
down 3.0 pts from a year ago
median sale price ÷ original list price
Sold below first asking
67%
share of homes that sold
Price cut on homes that didn't sell
6.0%
median — and they still didn't sell
For buyers
True days on market
51
up 31 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
3.3%
how far under the original price homes sold
Didn't sell, then sold on a relist
17%
of listings that didn't sell the first time
Median sold price
$525K
up 11.7% from a year ago
39 homes sold
The last 23 months
50% latest month · Aug 26
101 latest month · Aug 26
86.7% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 2 | 2 | 50% | 20 | 47805.8% |
| $300–400K | 2 | 4 | 67% | 39 | 97.5% |
| $400–500K | 10 | 5 | 33% | 66 | 95.7% |
| $500–750K | 17 | 2 | 11% | 84 | 99.3% |
| $750K–1M | 5 | 3 | 38% | 97 | 91.4% |
| $1M+ | 3 | 2 | 40% | 27 | 87.7% |
Homes only (land excluded), last 12 months unless noted. "Didn't sell" = listings that expired, were withdrawn or were canceled (some owners stop for reasons that have nothing to do with the market); true days on market counts from the first listing, even when a home was relisted. Source: Hive MLS listing and sales records, updated September 26, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000