Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 27822 · Elm City
September 26, 2026
(910) 395‑1000 · buddyblake.ai
In ZIP 27822, 1 in 5 homes listed didn't sell
In the last 12 months, 97 homes finished their time on the market in ZIP code 27822 (Elm City area): 76 sold and 21 did not — about 1 in 5. The ones that sold took a median of 42 days, counted from the first day listed, and closed at 98.2% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in ZIP 27822 · 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 The outlined ones expired, were withdrawn or were canceled.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
- Homes priced right from day one sold in a median of 10 days. Homes that needed price cuts took 111 days and sold for 88.6% of their first price.
- Price range matters: 30% of homes starting at $300–400K didn't sell, compared with 15% at Under $300K.
- Waiting costs money. A $271,700 home runs about $2,310 a month to hold — roughly $6,300 over the time a typical unsold listing sat.
- About 1 in 7 contracts fell apart before closing. Homes that went back on the market sold for 92.0% of first asking, versus 98.3% for homes that closed on the first contract.
If you're buying
- 65% 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 83 days.
Did you know?
- 15% of buyers paid cash, and 5% used VA loans.
- A year earlier, 22% of listings didn't sell; now it's 22%.
- When a contract fell apart, 15% of those homes never sold at all.
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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