Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28387 · Southern Pines
October 23, 2026
(910) 395‑1000 · buddyblake.com
In ZIP 28387, 1 in 4 homes that hit the market didn't sell
In ZIP 28387 (Southern Pines area) over the last 12 months, 452 homes ended their listings and 333 sold. The other 119 didn't sell, which is 26%, up from 21% the year before. Homes priced right from the start sold in a median of 18 days.
Summary written October 17, 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 28387 · Southern Pines 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 17 days. Needed price cuts: 74 days, and sold for 92.0% of the first price.
What waiting costs
| Property taxes | $122 |
| Homeowners insurance | $250 |
| Upkeep | $413 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $1,038 + mortgage |
About $1,038 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 168 days — roughly $5,739 in taxes, insurance, upkeep and utilities alone, and the home still didn't sell.
An example, not a quote: Moore County rate 0.295 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%
69 of about 403 before closing
Those homes that later sold
62%
36% never sold
Sold vs. first ask after a fall-through
93.6%
vs. 98.0% on the first contract
Days to sell after a fall-through
119
vs. 32 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 32% · cash 25% · VA 36% · FHA 2%.
If you're selling
- Price it right from day one. The 180 homes priced right sold in a median of 18 days. The 153 that needed cuts took 73 days and sold at 92.1% of asking.
- Two-thirds of sales (66%) closed below the first asking price. The typical sale came in at 97.5% of first ask, so a high start rarely holds.
- Watch the top end. Homes at $1M+ didn't sell 35% of the time. The $400–500K range did best, at 19%.
- Waiting costs money. On a $495,000 home, estimated carrying costs are about $1,038 a month before a mortgage. That is about $5,739 while a home sits unsold.
If you're buying
- There is room to negotiate. 66% of homes sold below the first asking price, and the typical sale was 97.5% of first ask.
- Look at homes that have sat. Listings that never sold had a median price cut of just 2.8% and sat a median of 168 days.
- Cash is not the only way in. Buyers paid cash on 26% of sales, 32% used conventional loans, 35% used VA and 2% used FHA.
Did you know?
- Homes that sold after a first contract fell apart took a median of 106 days, against 31 days for homes that stayed under their first contract.
- After a contract fell apart, 63% of those homes later sold, at 93.6% of asking. 35% never sold.
- The median sold price in ZIP 28387 over the last 12 months was $495,000.
Get the ZIP 28387 · Southern Pines 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
27%
up 5.3 pts from a year ago
118 expired or canceled vs 328 sold
Sold vs. first asking price
97.4%
down 1.1 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
2.8%
median — and they still didn't sell
For buyers
True days on market
37
up 11 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
2.6%
how far under the original price homes sold
Didn't sell, then sold on a relist
17%
of listings that didn't sell the first time
Median sold price
$497K
up 1.5% from a year ago
328 homes sold
The last 24 months
38% latest month · Sep 26
34 latest month · Sep 26
95.6% latest month · Sep 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 30 | 8 | 21% | 33 | 94.0% |
| $300–400K | 59 | 30 | 34% | 33 | 98.4% |
| $400–500K | 67 | 16 | 19% | 42 | 98.0% |
| $500–750K | 116 | 38 | 25% | 26 | 98.5% |
| $750K–1M | 26 | 9 | 26% | 52 | 95.4% |
| $1M+ | 30 | 17 | 36% | 33 | 94.6% |
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