Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 27909 · Elizabeth City
September 26, 2026
(910) 395‑1000 · buddyblake.ai
In ZIP 27909, 1 in 5 homes listed didn't sell
In the last 12 months, 805 homes finished their time on the market in ZIP code 27909 (Elizabeth City area): 638 sold and 167 did not — about 1 in 5. The ones that sold took a median of 24 days, counted from the first day listed, and closed at 99.4% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in ZIP 27909 · 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 The outlined ones expired, were withdrawn or were canceled.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 785 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
- Homes priced right from day one sold in a median of 16 days. Homes that needed price cuts took 57 days and sold for 92.7% of their first price.
- Price range matters: 32% of homes starting at $400–500K didn't sell, compared with 17% at $300–400K.
- Waiting costs money. A $318,100 home runs about $2,630 a month to hold — roughly $10,200 over the time a typical unsold listing sat.
- About 1 in 5 contracts fell apart before closing. Homes that went back on the market sold for 97.5% of first asking, versus 100.0% for homes that closed on the first contract.
If you're buying
- 51% 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 118 days.
Did you know?
- 16% of buyers paid cash, and 36% used VA loans.
- A year earlier, 24% of listings didn't sell; now it's 21%.
- When a contract fell apart, 22% of those homes never sold at all.
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For sellers
Listings that didn't sell
21%
down 3.1 pts from a year ago
167 expired, withdrawn or canceled vs 638 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
638 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 | 56 | 17% | 22 | 98.2% |
| $300–400K | 218 | 43 | 17% | 27 | 100.0% |
| $400–500K | 89 | 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% |
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