Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28401 · Wilmington
September 23, 2026
(910) 395‑1000 · buddyblake.ai
In ZIP 28401, 1 in 3 homes listed didn't sell
In the last 12 months, 587 homes finished their time on the market in ZIP code 28401 (Wilmington area): 354 sold and 233 did not — about 1 in 3. The ones that sold took a median of 36 days, counted from the first day listed, and closed at 96.4% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in ZIP 28401 · Wilmington 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 The outlined ones expired, were withdrawn or were canceled.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 13 days. Needed price cuts: 75 days, and sold for 92.4% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,012 |
| Property taxes | $97 |
| Homeowners insurance | $250 |
| Upkeep | $317 |
| Utilities | $250 |
| About | $2,930 |
About $2,930 every month the home sits.
Listings that didn't sell stayed on the market a median of 123 days — roughly $11,800 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); New Hanover County rate 0.306 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
24%
111 of about 465 before closing
Those homes that later sold
52%
38% never sold
Sold vs. first ask after a fall-through
92.3%
vs. 96.9% on the first contract
Days to sell after a fall-through
97
vs. 27 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 57% · cash 27% · VA 6% · FHA 4%.
If you're selling
- Homes priced right from day one sold in a median of 13 days. Homes that needed price cuts took 75 days and sold for 92.4% of their first price.
- Price range matters: 50% of homes starting at $1M+ didn't sell, compared with 36% at $300–400K.
- Waiting costs money. A $380,000 home runs about $2,930 a month to hold — roughly $11,800 over the time a typical unsold listing sat.
- About 1 in 4 contracts fell apart before closing. Homes that went back on the market sold for 92.3% of first asking, versus 96.9% for homes that closed on the first contract.
If you're buying
- 77% 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 123 days.
Did you know?
- 27% of buyers paid cash, and 6% used VA loans.
- A year earlier, 34% of listings didn't sell; now it's 40%.
- When a contract fell apart, 38% of those homes never sold at all.
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For sellers
Listings that didn't sell
40%
up 5.5 pts from a year ago
233 expired, withdrawn or canceled vs 354 sold
Sold vs. first asking price
96.4%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
77%
share of homes that sold
Price cut on homes that didn't sell
2.4%
median — and they still didn't sell
For buyers
True days on market
36
up 6 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
3.6%
how far under the original price homes sold
Didn't sell, then sold on a relist
15%
of listings that didn't sell the first time
Median sold price
$380K
up 5.3% from a year ago
354 homes sold
The last 24 months
40% latest month · Aug 26
31 latest month · Aug 26
96.5% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 66 | 48 | 42% | 26 | 95.6% |
| $300–400K | 127 | 72 | 36% | 33 | 97.0% |
| $400–500K | 76 | 44 | 37% | 44 | 96.5% |
| $500–750K | 60 | 44 | 42% | 32 | 96.1% |
| $750K–1M | 11 | 11 | 50% | 32 | 97.1% |
| $1M+ | 14 | 14 | 50% | 105 | 89.5% |
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 23, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000