Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28409 · Wilmington
September 23, 2026
(910) 395‑1000 · buddyblake.ai
In ZIP 28409, 1 in 6 homes listed didn't sell
In the last 12 months, 769 homes finished their time on the market in ZIP code 28409 (Wilmington area): 644 sold and 125 did not — about 1 in 6. The ones that sold took a median of 19 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 28409 · 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 The outlined ones expired, were withdrawn or were canceled.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 7 days. Needed price cuts: 62 days, and sold for 93.4% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,890 |
| Property taxes | $139 |
| Homeowners insurance | $250 |
| Upkeep | $455 |
| Utilities | $250 |
| About | $3,980 |
About $3,980 every month the home sits.
Listings that didn't sell stayed on the market a median of 102 days — roughly $13,400 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
14%
103 of about 748 before closing
Those homes that later sold
77%
22% never sold
Sold vs. first ask after a fall-through
95.2%
vs. 98.6% on the first contract
Days to sell after a fall-through
54
vs. 14 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 61% · cash 24% · VA 5% · FHA 4%.
If you're selling
- Homes priced right from day one sold in a median of 7 days. Homes that needed price cuts took 62 days and sold for 93.4% of their first price.
- Price range matters: 24% of homes starting at $1M+ didn't sell, compared with 8% at $300–400K.
- Waiting costs money. A $545,750 home runs about $3,980 a month to hold — roughly $13,400 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 95.2% of first asking, versus 98.6% for homes that closed on the first contract.
If you're buying
- 62% 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 102 days.
Did you know?
- 24% of buyers paid cash, and 5% used VA loans.
- A year earlier, 15% of listings didn't sell; now it's 16%.
- When a contract fell apart, 22% of those homes never sold at all.
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For sellers
Listings that didn't sell
16%
up 1.1 pts from a year ago
125 expired, withdrawn or canceled vs 644 sold
Sold vs. first asking price
98.2%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
62%
share of homes that sold
Price cut on homes that didn't sell
1.8%
median — and they still didn't sell
For buyers
True days on market
19
about the same as 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
26%
of listings that didn't sell the first time
Median sold price
$546K
about the same as a year ago
644 homes sold
The last 24 months
20% latest month · Aug 26
22 latest month · Aug 26
98.7% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 29 | 6 | 17% | 9 | 98.3% |
| $300–400K | 82 | 7 | 8% | 14 | 98.0% |
| $400–500K | 138 | 18 | 12% | 19 | 97.7% |
| $500–750K | 241 | 52 | 18% | 21 | 99.1% |
| $750K–1M | 67 | 14 | 17% | 9 | 99.5% |
| $1M+ | 87 | 28 | 24% | 54 | 95.0% |
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 23, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000