Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Lockwood Folly, Supply
September 24, 2026
(910) 395‑1000 · buddyblake.ai
Lockwood Folly: 1 in 4 Listings Didn't Sell This Year
In Lockwood Folly, 42 homes wrapped up over the last 12 months, and 31 of them sold. The typical sale took 114 days and closed at 91.9% of the first asking price. Homes priced right from the start sold in 45 days, but the ones that needed price cuts sat for 167 days.
Which pile do you want to be in?
Out of every 20 homes listed in Lockwood Folly, Supply 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 The outlined ones expired, were withdrawn or were canceled.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 45 days. Needed price cuts: 167 days, and sold for 88.6% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,860 |
| Property taxes | $154 |
| Homeowners insurance | $250 |
| Upkeep | $450 |
| Utilities | $250 |
| About | $3,960 |
About $3,960 every month the home sits.
Listings that didn't sell stayed on the market a median of 181 days — roughly $23,600 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); Brunswick County rate 0.342 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
14%
5 of about 36 before closing
Those homes that later sold
60%
40% never sold
Sold vs. first ask after a fall-through
86.8%
vs. 93.2% on the first contract
Days to sell after a fall-through
368
vs. 95 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 55% · cash 36% · VA 3% · FHA 3%.
If you're selling
- Price it right from day one: homes priced correctly sold in 45 days versus 167 days for homes that needed cuts.
- 1 in 4 listings didn't sell at all in the last 12 months, down from 44% the year before.
- Waiting has a cost. Homes that sat unsold typically saw a 0.7% price cut but still sat a median of 181 days.
- 14% of contracts fell apart before closing (1 in 7). Most often that's inspection, appraisal or financing issues. Homes that went back on the market after a fall-through took a median of 368 days to sell, versus 95 days on the first contract.
If you're buying
- There's room to negotiate. The typical home in Lockwood Folly sold at 91.9% of the first asking price, and 97% of sales closed below that first ask.
- Some homes sit a while. Listings that needed price cuts sat a median of 167 days before selling.
- Cash isn't the only way in. 36% of buyers paid cash, 55% used conventional financing, and VA and FHA loans each made up 3%.
Did you know?
- On a $540,000 home in Lockwood Folly, estimated monthly carrying costs run about $3,960 at a 6.95% mortgage rate.
- Sellers whose homes sat unsold faced an estimated $23,600 in carrying costs while waiting.
- Homes that needed price cuts still sold, but typically at 88.6% of asking, versus 93.2% for homes that sold on their first contract.
Get the Lockwood Folly, Supply report every month
The same numbers, updated monthly, straight to your inbox. No spam, one click to stop.
For sellers
Listings that didn't sell
26%
down 17.6 pts from a year ago
11 expired, withdrawn or canceled vs 31 sold
Sold vs. first asking price
91.9%
down 3.4 pts from a year ago
median sale price ÷ original list price
Sold below first asking
97%
share of homes that sold
Price cut on homes that didn't sell
0.7%
median — and they still didn't sell
For buyers
True days on market
114
up 38 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
8.1%
how far under the original price homes sold
Didn't sell, then sold on a relist
18%
of listings that didn't sell the first time
Median sold price
$540K
down 4.5% from a year ago
31 homes sold
The last 24 months
25% latest month · Aug 26
129 latest month · Aug 26
86.8% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| $300–400K | 3 | 0 | 0% | 15 | 98.4% |
| $400–500K | 6 | 2 | 25% | 31 | 97.6% |
| $500–750K | 16 | 9 | 36% | 167 | 90.6% |
| $750K–1M | 6 | 0 | 0% | 231 | 87.0% |
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 24, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000