Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: The Cape, Wilmington
October 19, 2026
(910) 395‑1000 · buddyblake.com
The Cape: homes priced right sold in 7 days, others took 74
In The Cape over the last 12 months, 45 homes ended their listings and 35 sold. The other 10 didn't sell, which is 22%, or 1 in 5. The typical home sold in 54 days at 96.3% of its first asking price, and the median sold price was $550,000.
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 The Cape, 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 The outlined ones expired, were withdrawn or were canceled.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 7 days. Needed price cuts: 74 days, and sold for 95.0% of the first price.
What waiting costs
| Property taxes | $140 |
| Homeowners insurance | $250 |
| Upkeep | $458 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $1,104 + mortgage |
About $1,104 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 149 days — roughly $5,374 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
24%
11 of about 46 before closing
Those homes that later sold
64%
27% never sold
Sold vs. first ask after a fall-through
97.5%
vs. 96.1% on the first contract
Days to sell after a fall-through
54
vs. 53 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 60% · cash 23% · VA 11% · FHA 6%.
If you're selling
- Price it right from day one. The 14 homes priced right typically sold in 7 days. The 21 that needed price cuts typically took 74 days and sold at 95.0%.
- 80% of sales closed below the first asking price. Starting high and cutting later is the usual path, and it costs time.
- The listings that never sold had a median price cut of only 1.1% and typically sat 149 days. A small cut made late doesn't fix a price that was off at the start.
- Waiting has a cost. On a $550,000 home, estimated carrying costs before the mortgage are about $1,104 a month, or about $5,374 while it sits unsold.
If you're buying
- Most buyers had room to negotiate. 80% of sales closed below the first ask, and the typical home sold at 96.3% of it.
- Homes that sit are worth a look. Listings that never sold typically sat 149 days, so a patient buyer may find a seller ready to deal.
- Buyers pay in different ways here: 23% cash, 60% conventional, 11% VA and 6% FHA.
Did you know?
- Did you know? In The Cape, the share of listings that didn't sell was 22%, down from 29% the year before.
- Did you know? After a contract fell apart, 64% of those homes later sold, at 97.5% of asking, while 27% never sold.
- Did you know? A first contract that held typically closed in 53 days. A home that sold after a contract fell apart typically took 54 days.
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For sellers
Listings that didn't sell
22%
down 7.1 pts from a year ago
10 expired, withdrawn or canceled vs 35 sold
Sold vs. first asking price
96.3%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
80%
share of homes that sold
Price cut on homes that didn't sell
1.1%
median — and they still didn't sell
For buyers
True days on market
54
up 20 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
3.7%
how far under the original price homes sold
Didn't sell, then sold on a relist
60%
of listings that didn't sell the first time
Median sold price
$550K
up 13.4% from a year ago
35 homes sold
The last 24 months
50% latest month · Sep 26
47 latest month · Sep 26
89.4% latest month · Sep 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 1 | 0 | 0% | 17 | 98.3% |
| $300–400K | 3 | 1 | 25% | 6 | 97.5% |
| $400–500K | 10 | 5 | 33% | 35 | 96.6% |
| $500–750K | 13 | 2 | 13% | 66 | 95.8% |
| $750K–1M | 8 | 2 | 20% | 61 | 93.9% |
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 19, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000