Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 27909 · Elizabeth City
October 24, 2026
(910) 395‑1000 · buddyblake.com
Elizabeth City area: one in five listings didn't sell
In the Elizabeth City area, ZIP 27909, one in five listings didn't sell over the last 12 months. That's down from 25% the year before. The typical home that sold took 24 days and went for a median price of $319,000, but how a home is priced from day one makes a big difference.
Summary written October 25, 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 ZIP 27909 · Elizabeth City 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 15 days. Needed price cuts: 55 days, and sold for 92.8% of the first price.
What waiting costs
| Property taxes | $165 |
| Homeowners insurance | $250 |
| Upkeep | $266 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $927 + mortgage |
About $927 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 120 days — roughly $3,666 in taxes, insurance, upkeep and utilities alone, and the home still didn't sell.
An example, not a quote: Pasquotank County rate 0.62 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
19%
143 of about 771 before closing
Those homes that later sold
71%
26% never sold
Sold vs. first ask after a fall-through
97.7%
vs. 100.0% on the first contract
Days to sell after a fall-through
46
vs. 20 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 27% · cash 16% · VA 35% · FHA 19%.
If you're selling
- Price it right from day one. Homes priced right sold in a median 15 days across 421 listings.
- Homes that needed price cuts took a median 55 days to sell, and 207 listings needed them. Those sold at 92.8% of asking.
- The $500–750K range is the hardest here, with 30% of listings not selling. Listings that never sold sat a median 120 days.
- Contracts fell apart on 19% of deals. Most often that's inspection, appraisal or financing issues, based on general industry experience. Fix known problems before you list.
If you're buying
- 52% of homes sold below their first asking price, so there is room to negotiate.
- Homes that never sold sat a median 120 days, so a listing that's been up a while may be open to a deal.
- Buyers used VA loans 35% of the time, conventional 27%, FHA 19% and cash 16%.
Did you know?
- Of 780 listings that ended in the last 12 months, 628 sold.
- The $300–400K range had the lowest share of listings that didn't sell, at 15%.
- When a contract fell apart, 71% of those homes later sold, and they sold at 97.7% of asking.
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For sellers
Listings that didn't sell
20%
down 5.7 pts from a year ago
152 expired or canceled vs 628 sold
Sold vs. first asking price
99.3%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
52%
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
24
about the same as a year ago
median for sold homes, counted from the first listing
Typical room below first ask
0.7%
how far under the original price homes sold
Didn't sell, then sold on a relist
25%
of listings that didn't sell the first time
Median sold price
$319K
up 4.6% from a year ago
628 homes sold
The last 24 months
8% latest month · Sep 26
17 latest month · Sep 26
100.0% latest month · Sep 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 264 | 50 | 16% | 21 | 98.5% |
| $300–400K | 214 | 39 | 15% | 26 | 100.0% |
| $400–500K | 89 | 38 | 30% | 33 | 100.0% |
| $500–750K | 53 | 23 | 30% | 16 | 100.0% |
| $750K–1M | 6 | 2 | 25% | 57 | 97.5% |
| $1M+ | 2 | 0 | 0% | 26 | 95.2% |
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