Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28387 · Southern Pines
November 1, 2026
(910) 395‑1000 · buddyblake.com
Southern Pines (28387): 27% of listings didn't sell this year
About 1 in 4 homes listed in the Southern Pines area, ZIP 28387, didn't sell over the last 12 months. That's up from 21% the year before. Homes that did sell took a typical 37 days and went for a median $499,000, at 97.4% of first asking price.
Summary written October 27, 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 18 days. Needed price cuts: 73 days, and sold for 91.9% of the first price.
What waiting costs
| Property taxes | $123 |
| Homeowners insurance | $250 |
| Upkeep | $416 |
| 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 166 days — roughly $5,657 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%
68 of about 396 before closing
Those homes that later sold
62%
37% never sold
Sold vs. first ask after a fall-through
94.0%
vs. 97.9% on the first contract
Days to sell after a fall-through
120
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 33% · cash 27% · VA 34% · FHA 2%.
If you're selling
- Price it right from day one. Homes priced right from the start typically sold in 17 days. Homes that needed cuts typically took 74 days and sold at 92.0% of asking.
- Know the $1M+ range is the hard one. It has the highest share of listings that didn't sell, at 36%.
- Waiting costs money. Listings that never sold typically sat 166 days and had a median 2.8% price cut. The estimated carrying cost for a $499,000 home is about $1,038 a month before mortgage.
- Get ready for a contract to fall apart. About 1 in 6 contracts did. Most often that's inspection, appraisal or financing issues, based on general industry experience. Sellers whose contracts fell apart later sold 62% of the time, and 37% never sold.
If you're buying
- Room to negotiate exists. 68% of homes sold below their first asking price.
- Homes that sit can be a good opening. Listings that didn't sell typically sat 166 days before ending.
- Financing mix this past year: VA 35%, conventional 32%, cash 26%, FHA 2%.
Did you know?
- Listings in this ZIP that didn't sell rose from 21% to 27% in a year.
- Homes that sold after a contract fell apart typically took 120 days, versus 31 days for the first contract.
- An estimated $5,657 in carrying costs before mortgage can build up while a home is unsold.
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 5.0 pts from a year ago
121 expired or canceled vs 328 sold
Sold vs. first asking price
97.5%
down 1.0 pts from a year ago
median sale price ÷ original list price
Sold below first asking
69%
share of homes that sold
Price cut on homes that didn't sell
2.7%
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
2.5%
how far under the original price homes sold
Didn't sell, then sold on a relist
18%
of listings that didn't sell the first time
Median sold price
$500K
up 4.3% from a year ago
328 homes sold
The last 24 months
42% latest month · Oct 26
18 latest month · Oct 26
98.3% latest month · Oct 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 30 | 9 | 23% | 33 | 94.0% |
| $300–400K | 59 | 30 | 34% | 33 | 98.4% |
| $400–500K | 64 | 16 | 20% | 40 | 98.0% |
| $500–750K | 119 | 40 | 25% | 26 | 98.5% |
| $750K–1M | 27 | 10 | 27% | 52 | 95.0% |
| $1M+ | 29 | 16 | 36% | 36 | 94.1% |
ZIP 28387 · Southern Pines housing market: quick answers
How long do homes take to sell in ZIP 28387 · Southern Pines?
Homes that sold in ZIP 28387 · Southern Pines over the last 12 months took a median of 37 days, counted from the day they were first listed (relists included). That's up 11 days from a year ago.
What do homes in ZIP 28387 · Southern Pines sell for compared to the asking price?
The median home in ZIP 28387 · Southern Pines sold for 97.5% of its first asking price in the last 12 months, and 69% of the homes that sold went for less than the original price. That's down 1.0 pts from a year ago.
What percentage of homes listed in ZIP 28387 · Southern Pines don't sell?
27% of homes listed in ZIP 28387 · Southern Pines over the last 12 months expired or were canceled without selling — about 1 in 4 (121 didn't sell vs 328 sold). That's up 5.0 pts from a year ago. The homes that didn't sell had already cut their price a median 2.7%.
What is the median sold price in ZIP 28387 · Southern Pines?
The median sold price in ZIP 28387 · Southern Pines over the last 12 months was $500,000, across 328 homes sold. That's up 4.3% from a year ago.
What is my home worth in ZIP 28387 · Southern Pines?
The median home in ZIP 28387 · Southern Pines sold for $500,000 over the last 12 months (328 sales), up about 4.3% from $479,198 the prior 12 months. Your property's value depends on its size, condition, lot and street, and online estimates often disagree by a wide margin. Enter your address under "What's my home worth?" on the homepage to see what's for sale, under contract and sold around you, or call for a price built from the homes that actually compete with yours.
Are home prices in ZIP 28387 · Southern Pines going down?
No — not at the median. Homes in ZIP 28387 · Southern Pines sold for a median of $500,000 in the last 12 months, up about 4.3% from $479,198 the prior 12 months. More homes sold (328 vs 325), and the median time on the market went from 26 to 37 days. Prices move differently by neighborhood and price range, so check the band your home falls in below.
Where do these ZIP 28387 · Southern Pines housing market numbers come from?
Hive MLS listing and sales records for homes only (land excluded), covering the last 12 months and updated November 1, 2026. The figures refresh from the MLS every hour; "didn't sell" counts only expired and canceled listings. Compiled by Buddy Blake Team, Coldwell Banker Sea Coast Advantage.
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 November 1, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000