Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Blake Farm, Wilmington
October 24, 2026
(910) 395‑1000 · buddyblake.com
One in four Blake Farm contracts fell apart in 12 months
In Blake Farm, one in four contracts fell apart over the last 12 months. Of 73 listings that ended in that stretch, 71 sold. Typical time to sell was 47 days, and the median sold price was $376,740.
Summary written October 21, 2026 from that day's numbers. The figures in the tiles update every hour, so they can differ slightly.
Which pile do you want to be in?
Out of every 20 homes listed in Blake Farm, Wilmington over the last 12 months, the solid houses sold. The outlined ones expired or were canceled.
Priced right from day one: sold in a median 28 days. Needed price cuts: 54 days, and sold for 94.9% of the first price.
What waiting costs
| Property taxes | $232 |
| Homeowners insurance | $250 |
| Upkeep | $314 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $1,043 + mortgage |
About $1,043 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 56 days — roughly $1,933 in taxes, insurance, upkeep and utilities alone, and the home still didn't sell.
An example, not a quote: Pender County rate 0.7375 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.
When contracts fall apart
Contracts that fell apart
24%
23 of about 95 before closing
Those homes that later sold
96%
4% never sold
Sold vs. first ask after a fall-through
97.8%
vs. 98.2% on the first contract
Days to sell after a fall-through
61
vs. 26 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 39% · cash 10% · VA 18% · FHA 32%.
If you're selling
- Price it right from day one. Homes priced right sold in a median 28 days. Homes that needed cuts took a median 54 days and sold at a median 94.9% of asking.
- Some ranges struggle. Listings in the $400–500K range had a 7% rate of not selling. In $300–400K it was 0%.
- Waiting costs money. Estimated carrying costs run about $1,933 a month before mortgage while a home sits unsold, versus about $1,043 for a typical home at $376,740.
- The MLS doesn't record why contracts fall apart. From my experience, it's most often inspection, appraisal or financing issues, so deal with those before you list.
If you're buying
- There's room to negotiate. 68% of homes sold below their first asking price.
- Some homes sit. Listings that never sold had a median price cut of 2.2% and sat a median 56 days.
- Here's how others are paying: 39% conventional, 31% FHA, 18% VA and 10% cash.
Did you know?
- Listings that didn't sell rose to 3% this year, up from 1% the year before. That's 1 in 37 listings.
- Homes sold at a median 97.8% of their first asking price, and the median sold price was $376,740.
- Of contracts that fell apart, 96% later sold and 4% never did.
Get the Blake Farm, Wilmington report every month
The same numbers, updated monthly, straight to your inbox. No spam, one click to stop.
For sellers
Listings that didn't sell
3%
up 2.1 pts from a year ago
2 expired or canceled vs 72 sold
Sold vs. first asking price
97.8%
down 2.2 pts from a year ago
median sale price ÷ original list price
Sold below first asking
68%
share of homes that sold
Price cut on homes that didn't sell
2.2%
median — and they still didn't sell
For buyers
True days on market
47
up 25 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
2.2%
how far under the original price homes sold
Didn't sell, then sold on a relist
100%
of listings that didn't sell the first time
Median sold price
$376K
down 10.5% from a year ago
72 homes sold
The last 24 months
0% latest month · Sep 26
10 latest month · Sep 26
98.0% latest month · Sep 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 2 | 0 | 0% | 18 | 450.1% |
| $300–400K | 40 | 0 | 0% | 50 | 96.1% |
| $400–500K | 29 | 2 | 7% | 42 | 99.7% |
| $500–750K | 1 | 0 | 0% | 49 | 97.8% |
Homes only (land excluded), last 12 months unless noted. "Didn't sell" = listings that expired or were canceled — withdrawn and on-hold listings are not counted (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 October 24, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000