Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Morehead City
September 26, 2026
(910) 395‑1000 · buddyblake.ai
Morehead City: 1 in 5 Listings Didn't Sell Last Year
In Morehead City, homes that were priced right sold in 8 days. Homes that needed price cuts took 59 days and sold for less. Right now 1 in 5 listings didn't sell at all, and that rate is up from 16% the year before.
Which pile do you want to be in?
Out of every 20 homes listed in Morehead 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 The outlined ones expired, were withdrawn or were canceled.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 8 days. Needed price cuts: 59 days, and sold for 91.7% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,322 |
| Property taxes | $82 |
| Homeowners insurance | $250 |
| Upkeep | $363 |
| Utilities | $250 |
| About | $3,270 |
About $3,270 every month the home sits.
Listings that didn't sell stayed on the market a median of 162 days — roughly $17,400 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); Carteret County rate 0.225 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%
54 of about 305 before closing
Those homes that later sold
72%
20% never sold
Sold vs. first ask after a fall-through
94.0%
vs. 96.2% on the first contract
Days to sell after a fall-through
91
vs. 18 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 45% · cash 41% · VA 8% · FHA 2%.
If you're selling
- Price it right from day one. Listings priced correctly sold in 8 days at 101 homes. Ones that needed cuts took 59 days across 147 homes and sold for 91.7% of asking.
- The $1M+ range struggled most, with a 28% rate of not selling. The $300–400K range did best at 11%.
- Waiting costs money. Homes that sat unsold for a median of 162 days still didn't sell in the end.
- Contracts fall apart 18% of the time, about 1 in 6. Most often it's inspection, appraisal or financing issues. Homes that go back on the market and sell later take a median 91 days and typically sell at 94.0% of asking, versus 96.2% for homes that stick with their first contract.
If you're buying
- 21% of listings in Morehead City didn't sell this past year, so there's room to negotiate, especially in the $1M+ range where 28% didn't sell.
- Homes needing price cuts sat for a median 59 days. That's a signal for buyers to watch for softening prices.
- Most buyers here aren't stretching with FHA. 41% paid cash, 45% used conventional loans, 8% used VA, and 2% used FHA.
Did you know?
- The typical sold home in Morehead City went for $435,000, at a median 95.8% of the first asking price.
- 75% of homes that sold went for less than the original asking price.
- On a $435,000 home financed at 7.03%, the estimated monthly carrying cost is about $3,270. Sitting unsold adds up to about $17,400 in estimated carrying costs.
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Thinking of selling in Morehead City? What it takes and what it costs →
For sellers
Listings that didn't sell
21%
up 4.8 pts from a year ago
65 expired, withdrawn or canceled vs 248 sold
Sold vs. first asking price
95.8%
down 0.5 pts from a year ago
median sale price ÷ original list price
Sold below first asking
75%
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
27
down 2 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
4.2%
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
$435K
up 5.5% from a year ago
248 homes sold
The last 24 months
8% latest month · Aug 26
26 latest month · Aug 26
93.6% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 42 | 8 | 16% | 25 | 96.3% |
| $300–400K | 47 | 6 | 11% | 14 | 96.4% |
| $400–500K | 48 | 12 | 20% | 46 | 93.5% |
| $500–750K | 54 | 18 | 25% | 31 | 96.2% |
| $750K–1M | 23 | 8 | 26% | 63 | 94.5% |
| $1M+ | 34 | 13 | 28% | 8 | 100.0% |
Neighborhoods in Morehead City
| Neighborhood | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Brandywine Bay | 35 | 7 | 17% | 19 | 95.9% |
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