Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Downtown, Wilmington
October 21, 2026
(910) 395‑1000 · buddyblake.com
Downtown Wilmington: 40% of listings ended without a sale
In the last 12 months, 60 homes in the Downtown neighborhood in Wilmington came off the market. 36 sold and 24 didn't, a 40% rate, down from 43% the year before. The typical home that sold took 21 days and went for 95.1% of its first asking price.
Summary written October 14, 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 Downtown, 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 The outlined ones expired, were withdrawn or were canceled.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 15 days. Needed price cuts: 53 days, and sold for 90.6% of the first price.
What waiting costs
| Property taxes | $89 |
| Homeowners insurance | $250 |
| Upkeep | $292 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $881 + mortgage |
About $881 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 156 days — roughly $4,530 in taxes, insurance, upkeep and utilities alone, and the home still didn't sell.
An example, not a quote: 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.
When contracts fall apart
Contracts that fell apart
22%
10 of about 46 before closing
Those homes that later sold
50%
50% never sold
Sold vs. first ask after a fall-through
90.3%
vs. 96.0% on the first contract
Days to sell after a fall-through
16
vs. 21 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 31% · VA 3% · FHA 0%.
If you're selling
- Price it right from day one. The 13 homes priced right sold in a typical 15 days. The 23 that needed price cuts took a typical 53 days and sold at 90.8% of asking.
- Small cuts don't fix a wrong start. Listings that never sold had a median cut of just 2.2% and sat a median of 156 days.
- Waiting costs money. On a $350,000 home, carrying costs are estimated at about $881 a month before the mortgage. An unsold stretch adds up to an estimated $4,530 or so.
- About 22% of contracts fell apart, roughly 1 in 5. The MLS doesn't record why. In general experience it's most often inspection, appraisal or financing issues, so get the home ready and the paperwork in order before you list.
If you're buying
- You have room to negotiate. 83% of Downtown homes sold below their first asking price, and the typical sale came in at 95.1% of it.
- Homes that sit are negotiable. Listings that never sold sat a median of 156 days. A home that has been on the market a long time may be open to a lower offer.
- Cash is common but not required. 31% of buyers paid cash and 53% used conventional loans. VA was 3% and FHA was 0%.
Did you know?
- Half of the Downtown homes whose contracts fell apart later sold. The other 50% never sold.
- Homes that sold after a contract fell apart took a typical 16 days and went for 90.3% of asking. First-contract sales took a typical 21 days and went for 96.0%.
- The median sold price Downtown over the last 12 months was $350,000.
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For sellers
Listings that didn't sell
42%
about the same as a year ago
25 expired, withdrawn or canceled vs 35 sold
Sold vs. first asking price
96.0%
up 1.0 pts from a year ago
median sale price ÷ original list price
Sold below first asking
83%
share of homes that sold
Price cut on homes that didn't sell
2.0%
median — and they still didn't sell
For buyers
True days on market
21
down 3 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
4.0%
how far under the original price homes sold
Didn't sell, then sold on a relist
16%
of listings that didn't sell the first time
Median sold price
$350K
up 6.1% from a year ago
35 homes sold
The last 24 months
60% latest month · Sep 26
23 latest month · Sep 26
97.8% latest month · Sep 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 9 | 9 | 50% | 21 | 93.4% |
| $300–400K | 16 | 3 | 16% | 16 | 97.7% |
| $400–500K | 4 | 10 | 71% | 78 | 89.0% |
| $500–750K | 6 | 3 | 33% | 50 | 88.7% |
| $750K–1M | 0 | 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 October 21, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000