Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Elizabeth City
September 26, 2026
(910) 395‑1000 · buddyblake.ai
Elizabeth City: 1 in 5 Listings Didn't Sell
Over the last 12 months, Elizabeth City saw 800 listings end, with 635 selling and 165 not selling, a didNotSellRate of 21%. Homes priced right from day one sold in a median of 16 days, while those needing price cuts took 57 days and still sold at 92.7% of asking. The median sold price came in at $318,000, with typical time to sell at 24 days.
Which pile do you want to be in?
Out of every 20 homes listed in Elizabeth City 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 The outlined ones expired, were withdrawn or were canceled.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 16 days. Needed price cuts: 57 days, and sold for 92.7% of the first price.
What waiting costs
| Mortgage (principal + interest) | $1,698 |
| Property taxes | $164 |
| Homeowners insurance | $250 |
| Upkeep | $265 |
| Utilities | $250 |
| About | $2,630 |
About $2,630 every month the home sits.
Listings that didn't sell stayed on the market a median of 118 days — roughly $10,200 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); Pasquotank County rate 0.62 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
18%
143 of about 781 before closing
Those homes that later sold
77%
22% never sold
Sold vs. first ask after a fall-through
97.5%
vs. 100.0% on the first contract
Days to sell after a fall-through
49
vs. 20 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 27% · cash 16% · VA 36% · FHA 18%.
If you're selling
- Price it right from day one. Listings priced correctly sold in 16 days versus 57 days for those needing cuts.
- Homes in the $400–500K range struggled most, with a 32% didNotSellRate. The $300–400K range did best at 16%.
- Waiting has a cost. Homes that never sold sat a median of 118 days before coming off the market.
- Contracts fell apart 18% of the time, about 1 in 5. Most often this comes down to inspection, appraisal or financing issues, so be prepared going in.
If you're buying
- 51% of homes sold below the first asking price, so there's often room to negotiate.
- Homes that need a price cut still sell, just slower, at 57 days versus 24 days typical.
- Buyers are financing in a mix of ways: 36% VA, 27% conventional, 18% FHA, and 16% paying cash.
Did you know?
- The typical home in Elizabeth City sold for 99.4% of its first asking price.
- When a contract fell apart, 77% of those homes went on to sell later, at a median 97.5% of asking.
- At today's 7.03% rate, carrying a $318,000 home runs about $2,630 a month, or an estimated $10,200 while it sits unsold.
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Thinking of selling in Elizabeth City? What it takes and what it costs →
For sellers
Listings that didn't sell
21%
down 3.4 pts from a year ago
165 expired, withdrawn or canceled vs 635 sold
Sold vs. first asking price
99.4%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
51%
share of homes that sold
Price cut on homes that didn't sell
0.0%
median — and they still didn't sell
For buyers
True days on market
24
down 1 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
0.6%
how far under the original price homes sold
Didn't sell, then sold on a relist
26%
of listings that didn't sell the first time
Median sold price
$318K
up 4.3% from a year ago
635 homes sold
The last 24 months
12% latest month · Aug 26
25 latest month · Aug 26
98.9% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 270 | 55 | 17% | 22 | 98.2% |
| $300–400K | 216 | 42 | 16% | 26 | 100.0% |
| $400–500K | 88 | 42 | 32% | 34 | 100.0% |
| $500–750K | 53 | 24 | 31% | 17 | 100.0% |
| $750K–1M | 6 | 2 | 25% | 57 | 97.5% |
| $1M+ | 2 | 0 | 0% | 26 | 95.2% |
Neighborhoods in Elizabeth City
| Neighborhood | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Tooley Harbor | 38 | 29 | 43% | 59 | 99.1% |
| Adams Landing | 41 | 9 | 18% | 22 | 99.2% |
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