Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Downtown, Wilmington
September 23, 2026
(910) 395‑1000 · buddyblake.ai
In Downtown, 1 in 3 homes listed didn't sell
In the last 12 months, 60 homes finished their time on the market in the Downtown neighborhood in Wilmington: 36 sold and 24 did not — about 1 in 3. The ones that sold took a median of 21 days, counted from the first day listed, and closed at 95.1% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in Downtown, Wilmington 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 The outlined ones expired, were withdrawn or were canceled.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 15 days. Needed price cuts: 53 days, and sold for 90.8% of the first price.
What waiting costs
| Mortgage (principal + interest) | $1,853 |
| Property taxes | $89 |
| Homeowners insurance | $250 |
| Upkeep | $292 |
| Utilities | $250 |
| About | $2,730 |
About $2,730 every month the home sits.
Listings that didn't sell stayed on the market a median of 156 days — roughly $14,000 in holding costs, and the home still didn't sell.
An example, not a quote: 20% down, 30-year fixed at 6.95% (Freddie Mac average, 2026-09-17); New Hanover County rate 0.306 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
23%
11 of about 47 before closing
Those homes that later sold
46%
46% never sold
Sold vs. first ask after a fall-through
90.3%
vs. 96.0% on the first contract
Days to sell after a fall-through
16
vs. 21 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 53% · cash 31% · VA 3% · FHA 0%.
If you're selling
- Homes priced right from day one sold in a median of 15 days. Homes that needed price cuts took 53 days and sold for 90.8% of their first price.
- Waiting costs money. A $350,000 home runs about $2,730 a month to hold — roughly $14,000 over the time a typical unsold listing sat.
- About 1 in 4 contracts fell apart before closing. Homes that went back on the market sold for 90.3% of first asking, versus 96.0% for homes that closed on the first contract.
If you're buying
- 83% of homes sold below their first asking price — the first price is often a starting point.
- Homes that sit usually sit for a reason. Listings that didn't sell stayed on the market a median of 156 days.
Did you know?
- 31% of buyers paid cash, and 3% used VA loans.
- A year earlier, 44% of listings didn't sell; now it's 40%.
- When a contract fell apart, 46% of those homes never sold at all.
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For sellers
Listings that didn't sell
40%
down 3.6 pts from a year ago
24 expired, withdrawn or canceled vs 36 sold
Sold vs. first asking price
95.1%
down 0.7 pts from a year ago
median sale price ÷ original list price
Sold below first asking
83%
share of homes that sold
Price cut on homes that didn't sell
2.2%
median — and they still didn't sell
For buyers
True days on market
21
down 3 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
4.9%
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
$350K
up 6.9% from a year ago
36 homes sold
The last 24 months
25% latest month · Aug 26
21 latest month · Aug 26
96.7% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 9 | 8 | 47% | 21 | 93.4% |
| $300–400K | 16 | 4 | 20% | 16 | 97.7% |
| $400–500K | 5 | 9 | 64% | 60 | 91.0% |
| $500–750K | 6 | 3 | 33% | 50 | 88.7% |
| $750K–1M | 0 | 0 | — | — | — |
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 23, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000