Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28412 · Wilmington
September 23, 2026
(910) 395‑1000 · buddyblake.ai
In ZIP 28412, 1 in 4 homes listed didn't sell
In the last 12 months, 1,161 homes finished their time on the market in ZIP code 28412 (Wilmington area): 882 sold and 279 did not — about 1 in 4. The ones that sold took a median of 37 days, counted from the first day listed, and closed at 97.2% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in ZIP 28412 · 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 The outlined ones expired, were withdrawn or were canceled.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 10 days. Needed price cuts: 68 days, and sold for 93.1% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,251 |
| Property taxes | $108 |
| Homeowners insurance | $250 |
| Upkeep | $354 |
| Utilities | $250 |
| About | $3,210 |
About $3,210 every month the home sits.
Listings that didn't sell stayed on the market a median of 112 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
14%
148 of about 1,032 before closing
Those homes that later sold
69%
30% never sold
Sold vs. first ask after a fall-through
94.7%
vs. 97.5% on the first contract
Days to sell after a fall-through
83
vs. 31 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 23% · VA 6% · FHA 5%.
If you're selling
- Homes priced right from day one sold in a median of 10 days. Homes that needed price cuts took 68 days and sold for 93.1% of their first price.
- Price range matters: 49% of homes starting at $1M+ didn't sell, compared with 19% at $300–400K.
- Waiting costs money. A $425,000 home runs about $3,210 a month to hold — roughly $11,800 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 94.7% of first asking, versus 97.5% for homes that closed on the first contract.
If you're buying
- 73% 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 112 days.
Did you know?
- 23% of buyers paid cash, and 6% used VA loans.
- A year earlier, 18% of listings didn't sell; now it's 24%.
- When a contract fell apart, 30% of those homes never sold at all.
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For sellers
Listings that didn't sell
24%
up 6.5 pts from a year ago
279 expired, withdrawn or canceled vs 882 sold
Sold vs. first asking price
97.2%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
73%
share of homes that sold
Price cut on homes that didn't sell
1.4%
median — and they still didn't sell
For buyers
True days on market
37
up 5 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
2.8%
how far under the original price homes sold
Didn't sell, then sold on a relist
27%
of listings that didn't sell the first time
Median sold price
$425K
up 1.9% from a year ago
882 homes sold
The last 24 months
31% latest month · Aug 26
43 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 | 161 | 67 | 29% | 34 | 95.8% |
| $300–400K | 211 | 50 | 19% | 27 | 97.8% |
| $400–500K | 172 | 51 | 23% | 28 | 98.0% |
| $500–750K | 255 | 63 | 20% | 57 | 96.8% |
| $750K–1M | 66 | 32 | 33% | 35 | 97.9% |
| $1M+ | 17 | 16 | 49% | 62 | 93.8% |
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 23, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000