Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28557 · Morehead City
September 26, 2026
(910) 395‑1000 · buddyblake.ai
In ZIP 28557, 1 in 5 homes listed didn't sell
In the last 12 months, 313 homes finished their time on the market in ZIP code 28557 (Morehead City area): 248 sold and 65 did not — about 1 in 5. The ones that sold took a median of 27 days, counted from the first day listed, and closed at 95.8% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in ZIP 28557 · Morehead 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 The outlined ones expired, were withdrawn or were canceled.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 8 days. Needed price cuts: 59 days, and sold for 91.7% of the first price.
What waiting costs
| Mortgage (principal + interest) | $2,322 |
| Property taxes | $82 |
| Homeowners insurance | $250 |
| Upkeep | $363 |
| Utilities | $250 |
| About | $3,270 |
About $3,270 every month the home sits.
Listings that didn't sell stayed on the market a median of 162 days — roughly $17,400 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); Carteret County rate 0.225 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%
54 of about 305 before closing
Those homes that later sold
72%
20% never sold
Sold vs. first ask after a fall-through
94.0%
vs. 96.2% on the first contract
Days to sell after a fall-through
91
vs. 18 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 45% · cash 41% · VA 8% · FHA 2%.
If you're selling
- Homes priced right from day one sold in a median of 8 days. Homes that needed price cuts took 59 days and sold for 91.7% of their first price.
- Price range matters: 28% of homes starting at $1M+ didn't sell, compared with 11% at $300–400K.
- Waiting costs money. A $435,000 home runs about $3,270 a month to hold — roughly $17,400 over the time a typical unsold listing sat.
- About 1 in 6 contracts fell apart before closing. Homes that went back on the market sold for 94.0% of first asking, versus 96.2% for homes that closed on the first contract.
If you're buying
- 75% 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 162 days.
Did you know?
- 41% of buyers paid cash, and 8% used VA loans.
- A year earlier, 16% of listings didn't sell; now it's 21%.
- When a contract fell apart, 20% of those homes never sold at all.
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For sellers
Listings that didn't sell
21%
up 4.8 pts from a year ago
65 expired, withdrawn or canceled vs 248 sold
Sold vs. first asking price
95.8%
down 0.5 pts from a year ago
median sale price ÷ original list price
Sold below first asking
75%
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
27
down 2 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
4.2%
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
$435K
up 5.5% from a year ago
248 homes sold
The last 24 months
8% latest month · Aug 26
26 latest month · Aug 26
93.6% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 42 | 8 | 16% | 25 | 96.3% |
| $300–400K | 47 | 6 | 11% | 14 | 96.4% |
| $400–500K | 48 | 12 | 20% | 46 | 93.5% |
| $500–750K | 54 | 18 | 25% | 31 | 96.2% |
| $750K–1M | 23 | 8 | 26% | 63 | 94.5% |
| $1M+ | 34 | 13 | 28% | 8 | 100.0% |
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 26, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000