Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Terrapin, Leland
October 23, 2026
(910) 395‑1000 · buddyblake.com
Only 6% of Terrapin listings didn't sell this past year
In the Terrapin neighborhood in Leland, 6% of listings didn't sell over the last 12 months, or 1 in 18. A year before, that rate was 20%. Of 91 listings that ended, 86 sold, and the median time to sell was 40 days.
Summary written October 22, 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 Terrapin, Leland 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 7 days. Needed price cuts: 121 days, and sold for 94.5% of the first price.
What waiting costs
| Property taxes | $136 |
| Homeowners insurance | $250 |
| Upkeep | $398 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $1,036 + mortgage |
About $1,036 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 124 days — roughly $4,223 in taxes, insurance, upkeep and utilities alone, and the home still didn't sell.
An example, not a quote: 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.
When contracts fall apart
Contracts that fell apart
17%
17 of about 103 before closing
Those homes that later sold
82%
12% never sold
Sold vs. first ask after a fall-through
99.7%
vs. 100.0% on the first contract
Days to sell after a fall-through
87
vs. 8 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 63% · cash 17% · VA 5% · FHA 14%.
If you're selling
- Price it right from day one. Homes priced right sold in a median 8 days, and 67 homes went that way.
- Listings that needed price cuts sat a median 121 days and sold at a median 94.5% of asking. That's 19 homes.
- Waiting has a cost. Listings that never sold sat a median 124 days, and the median price cut on them was 0.6%.
- Contracts fall apart about 1 in 6 times here. Most often that's inspection, appraisal or financing issues, based on general industry experience. Get your house ready for inspection before you list.
If you're buying
- There's room to negotiate. 51% of homes sold below the first asking price, though the median sold at 100.0% of first ask.
- Homes that sit are worth a look. Listings that needed cuts took a median 121 days, and ones that never sold took a median 124 days.
- Most buyers here use conventional loans at 63%. Cash is 17%, FHA is 14%, and VA is 5%.
Did you know?
- The median sold price in Terrapin was $477,368.
- For a home at $477,368, carrying costs before mortgage are estimated at about $1,036 a month.
- Carrying a home while it sits unsold is estimated at about $4,223 before mortgage.
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For sellers
Listings that didn't sell
6%
down 11.1 pts from a year ago
5 expired or canceled vs 85 sold
Sold vs. first asking price
100.0%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
51%
share of homes that sold
Price cut on homes that didn't sell
0.6%
median — and they still didn't sell
For buyers
True days on market
31
down 23 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
0.0%
how far under the original price homes sold
Didn't sell, then sold on a relist
0%
of listings that didn't sell the first time
Median sold price
$478K
up 0.8% from a year ago
85 homes sold
The last 15 months
0% latest month · Sep 26
49 latest month · Sep 26
98.6% latest month · Sep 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| $300–400K | 5 | 0 | 0% | 87 | 99.7% |
| $400–500K | 44 | 3 | 6% | 53 | 100.0% |
| $500–750K | 36 | 2 | 5% | 4 | 100.0% |
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 23, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000