Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28405 · Wilmington
November 1, 2026
(910) 395‑1000 · buddyblake.com
In ZIP 28405, one in four listings didn't sell last 12 months
One in four listings in ZIP 28405 ended without selling over the last 12 months. That's up from 18% the year before. The homes that did sell went in a typical 28 days, at a median 96.6% of their first asking price.
Summary written November 1, 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 28405 · Wilmington 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 10 days. Needed price cuts: 63 days, and sold for 92.8% of the first price.
What waiting costs
| Property taxes | $108 |
| Homeowners insurance | $250 |
| Upkeep | $353 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $964 + mortgage |
About $964 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 119 days — roughly $3,744 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
16%
83 of about 529 before closing
Those homes that later sold
63%
35% never sold
Sold vs. first ask after a fall-through
93.0%
vs. 96.9% on the first contract
Days to sell after a fall-through
59
vs. 22 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 57% · cash 33% · VA 3% · FHA 4%.
If you're selling
- Price it right from day one. Homes priced right sold in a typical 10 days. Listings that needed cuts took a typical 66 days.
- Know the $300–400K band. It had the highest didn't-sell rate, at 30%.
- Waiting costs money. On a $423,000 home, estimated carrying costs run about $964 a month before any mortgage.
- Contracts fell apart 16% of the time, about one in six. Most often that's inspection, appraisal or financing issues, based on general industry experience. Get ahead of those before you go under contract.
If you're buying
- 77% of sales closed below the first asking price, so there's room to negotiate.
- The $500–750K band had the lowest didn't-sell rate, at 14%.
- Buyers paid cash 32% of the time, conventional 57%, VA 3% and FHA 4%.
Did you know?
- The median sold price in ZIP 28405 was $423,000.
- Listings that never sold had a median price cut of 2.7% and sat a median 119 days.
- After a contract fell apart, 62% of those homes later sold, at a median 93.0% of asking, in a median 59 days.
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For sellers
Listings that didn't sell
23%
up 4.0 pts from a year ago
134 expired or canceled vs 446 sold
Sold vs. first asking price
96.6%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
78%
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
28
up 8 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
3.4%
how far under the original price homes sold
Didn't sell, then sold on a relist
20%
of listings that didn't sell the first time
Median sold price
$424K
up 2.2% from a year ago
446 homes sold
The last 24 months
35% latest month · Oct 26
18 latest month · Oct 26
93.2% latest month · Oct 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 94 | 27 | 22% | 33 | 96.5% |
| $300–400K | 92 | 42 | 31% | 23 | 97.1% |
| $400–500K | 67 | 12 | 15% | 31 | 96.5% |
| $500–750K | 71 | 11 | 13% | 36 | 95.6% |
| $750K–1M | 36 | 13 | 27% | 49 | 97.0% |
| $1M+ | 86 | 29 | 25% | 23 | 96.2% |
ZIP 28405 · Wilmington housing market: quick answers
How long do homes take to sell in ZIP 28405 · Wilmington?
Homes that sold in ZIP 28405 · Wilmington over the last 12 months took a median of 28 days, counted from the day they were first listed (relists included). That's up 8 days from a year ago.
What do homes in ZIP 28405 · Wilmington sell for compared to the asking price?
The median home in ZIP 28405 · Wilmington sold for 96.6% of its first asking price in the last 12 months, and 78% of the homes that sold went for less than the original price. That's about the same as a year ago.
What percentage of homes listed in ZIP 28405 · Wilmington don't sell?
23% of homes listed in ZIP 28405 · Wilmington over the last 12 months expired or were canceled without selling — about 1 in 4 (134 didn't sell vs 446 sold). That's up 4.0 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 28405 · Wilmington?
The median sold price in ZIP 28405 · Wilmington over the last 12 months was $424,000, across 446 homes sold. That's up 2.2% from a year ago.
What is my home worth in ZIP 28405 · Wilmington?
The median home in ZIP 28405 · Wilmington sold for $424,000 over the last 12 months (446 sales), up about 2.2% from $415,000 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 28405 · Wilmington going down?
No — not at the median. Homes in ZIP 28405 · Wilmington sold for a median of $424,000 in the last 12 months, up about 2.2% from $415,000 the prior 12 months. Fewer homes sold (446 vs 467), and the median time on the market went from 20 to 28 days. Prices move differently by neighborhood and price range, so check the band your home falls in below.
Where do these ZIP 28405 · Wilmington 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