Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28451 · Leland
September 23, 2026
(910) 395‑1000 · buddyblake.ai
In ZIP 28451, 1 in 5 homes listed didn't sell
In the last 12 months, 1,887 homes finished their time on the market in ZIP code 28451 (Leland area): 1,503 sold and 384 did not — about 1 in 5. The ones that sold took a median of 50 days, counted from the first day listed, and closed at 97.3% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in ZIP 28451 · Leland 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 The outlined ones expired, were withdrawn or were canceled.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 20 days. Needed price cuts: 93 days, and sold for 92.9% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,055 |
| Property taxes | $111 |
| Homeowners insurance | $250 |
| Upkeep | $323 |
| Utilities | $250 |
| About | $2,990 |
About $2,990 every month the home sits.
Listings that didn't sell stayed on the market a median of 122 days — roughly $11,900 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); Brunswick County rate 0.342 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%
253 of about 1,762 before closing
Those homes that later sold
73%
25% never sold
Sold vs. first ask after a fall-through
95.0%
vs. 97.5% on the first contract
Days to sell after a fall-through
93
vs. 44 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 53% · cash 20% · VA 7% · FHA 18%.
If you're selling
- Homes priced right from day one sold in a median of 20 days. Homes that needed price cuts took 93 days and sold for 92.9% of their first price.
- Price range matters: 44% of homes starting at $1M+ didn't sell, compared with 17% at $400–500K.
- Waiting costs money. A $387,999 home runs about $2,990 a month to hold — roughly $11,900 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 95.0% 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 122 days.
Did you know?
- 20% of buyers paid cash, and 7% used VA loans.
- A year earlier, 18% of listings didn't sell; now it's 20%.
- When a contract fell apart, 25% of those homes never sold at all.
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For sellers
Listings that didn't sell
20%
up 2.2 pts from a year ago
384 expired, withdrawn or canceled vs 1,503 sold
Sold vs. first asking price
97.3%
down 0.9 pts from 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
2.4%
median — and they still didn't sell
For buyers
True days on market
50
up 10 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
2.7%
how far under the original price homes sold
Didn't sell, then sold on a relist
22%
of listings that didn't sell the first time
Median sold price
$388K
up 4.0% from a year ago
1,503 homes sold
The last 24 months
22% latest month · Aug 26
48 latest month · Aug 26
96.0% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 248 | 65 | 21% | 33 | 97.9% |
| $300–400K | 498 | 113 | 19% | 53 | 97.3% |
| $400–500K | 339 | 70 | 17% | 61 | 97.6% |
| $500–750K | 296 | 69 | 19% | 49 | 97.4% |
| $750K–1M | 95 | 46 | 33% | 66 | 96.3% |
| $1M+ | 27 | 21 | 44% | 81 | 92.0% |
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