Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Elm City
September 26, 2026
(910) 395‑1000 · buddyblake.ai
Elm City: 1 in 5 Listings Didn't Sell Last Year
Over the last 12 months, Elm City saw 97 homes end, with 76 selling and 21 not selling, a 22% didn't-sell rate. Homes priced right from day one sold in about 10 days, while homes that needed price cuts sat for 111 days before selling at 88.6% of asking.
Which pile do you want to be in?
Out of every 20 homes listed in Elm 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 The outlined ones expired, were withdrawn or were canceled.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 10 days. Needed price cuts: 111 days, and sold for 88.6% of the first price.
What waiting costs
| Mortgage (principal + interest) | $1,450 |
| Property taxes | $135 |
| Homeowners insurance | $250 |
| Upkeep | $226 |
| Utilities | $250 |
| About | $2,310 |
About $2,310 every month the home sits.
Listings that didn't sell stayed on the market a median of 83 days — roughly $6,300 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); Wilson County rate 0.595 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
15%
13 of about 89 before closing
Those homes that later sold
85%
15% never sold
Sold vs. first ask after a fall-through
92.0%
vs. 98.3% on the first contract
Days to sell after a fall-through
156
vs. 25 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 46% · cash 15% · VA 5% · FHA 29%.
If you're selling
- Price it right from day one. Homes priced correctly sold in 10 days at strong terms, while homes needing cuts took 111 days and sold for less, at 88.6% of asking.
- The $300-400K range struggled most, with a 30% didn't-sell rate. Under $300K did much better, at 15%.
- Listings that never sold still saw a median price cut of 1.3%, and sat for a median of 83 days before ending.
- If a contract falls apart, most homes still sell, 85% went on to sell later, but it can take 156 days versus 25 days for a first contract. Most often this comes down to inspection, appraisal or financing issues.
If you're buying
- Homes here typically sell at 98.2% of the first asking price, and 65% of sales closed below that first ask. There's room to negotiate.
- 1 in 7 contracts in Elm City fall apart before closing, most often over inspection, appraisal or financing issues. Have your financing and expectations lined up early.
- Financing here is a mix: 46% conventional, 29% FHA, 15% cash, and 5% VA.
Did you know?
- The typical home in Elm City sold in 42 days over the last 12 months.
- At the median sold price of $271,700 and a 7.03% mortgage rate, the estimated monthly carrying cost is about $2,310.
- A home that sits unsold can cost an estimated $6,300 in carrying costs while waiting.
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Thinking of selling in Elm City? What it takes and what it costs →
For sellers
Listings that didn't sell
22%
about the same as a year ago
21 expired, withdrawn or canceled vs 76 sold
Sold vs. first asking price
98.2%
up 1.1 pts from a year ago
median sale price ÷ original list price
Sold below first asking
65%
share of homes that sold
Price cut on homes that didn't sell
1.3%
median — and they still didn't sell
For buyers
True days on market
42
up 16 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
1.8%
how far under the original price homes sold
Didn't sell, then sold on a relist
14%
of listings that didn't sell the first time
Median sold price
$272K
up 4.5% from a year ago
76 homes sold
The last 24 months
50% latest month · Aug 26
66 latest month · Aug 26
97.3% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 45 | 8 | 15% | 34 | 98.3% |
| $300–400K | 21 | 9 | 30% | 98 | 93.8% |
| $400–500K | 3 | 1 | 25% | 83 | 98.4% |
| $500–750K | 6 | 2 | 25% | 24 | 98.6% |
| $750K–1M | 1 | 1 | 50% | 233 | 91.8% |
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