Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28409 · Wilmington
November 1, 2026
(910) 395‑1000 · buddyblake.com
1 in 6 Wilmington-area listings in 28409 didn't sell this year
In ZIP 28409, 644 of 772 listings sold over the last 12 months, and 128 ended without a sale. The typical home sold in 21 days, and the median sold price was $550,000.
Summary written October 29, 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 28409 · 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 7 days. Needed price cuts: 62 days, and sold for 93.5% 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 | $1,098 + mortgage |
About $1,098 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 102 days — roughly $3,678 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
14%
102 of about 745 before closing
Those homes that later sold
75%
26% never sold
Sold vs. first ask after a fall-through
95.8%
vs. 98.4% on the first contract
Days to sell after a fall-through
54
vs. 16 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 62% · cash 24% · VA 5% · FHA 4%.
If you're selling
- Price it right from the first day. Homes priced right from the start sold in a typical 7 days.
- Homes that needed price cuts took a typical 63 days to sell, and sold at 93.5% of asking.
- Price matters by range. The $1M+ range had the highest share that didn't sell, at 24%.
- When a contract falls apart, the home still often sells. 75% of those later sold, but it took a typical 54 days. Prepare early, since inspection, appraisal and financing issues are most often what break deals, based on general industry experience.
If you're buying
- There is room to negotiate. 63% of homes sold below their first asking price, and the typical sale came in at 98.1% of first ask.
- Homes that never sold typically sat 102 days and had a median price cut of 2.1%.
- Most buyers here use conventional loans at 62%. Cash is 23%, VA is 5%, and FHA is 4%.
Did you know?
- Did you know that about 1 in 8 contracts fell apart in this area (13%)? Three out of four of those homes later sold.
- Did you know that the $300–400K range had a 9% didn't-sell rate, compared with 24% at $1M+?
- Did you know that the didn't-sell rate was 16% the year before, compared with 17% this year?
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For sellers
Listings that didn't sell
17%
about the same as a year ago
131 expired or canceled vs 643 sold
Sold vs. first asking price
98.0%
about the same as a year ago
median sale price ÷ original list price
Sold below first asking
63%
share of homes that sold
Price cut on homes that didn't sell
2.2%
median — and they still didn't sell
For buyers
True days on market
21
up 2 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
2.0%
how far under the original price homes sold
Didn't sell, then sold on a relist
26%
of listings that didn't sell the first time
Median sold price
$550K
up 1.9% from a year ago
643 homes sold
The last 24 months
27% latest month · Oct 26
26 latest month · Oct 26
98.4% latest month · Oct 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 27 | 4 | 13% | 9 | 98.3% |
| $300–400K | 81 | 8 | 9% | 14 | 97.4% |
| $400–500K | 133 | 19 | 13% | 18 | 97.7% |
| $500–750K | 242 | 54 | 18% | 22 | 98.7% |
| $750K–1M | 67 | 14 | 17% | 8 | 99.4% |
| $1M+ | 93 | 32 | 26% | 54 | 95.0% |
ZIP 28409 · Wilmington housing market: quick answers
How long do homes take to sell in ZIP 28409 · Wilmington?
Homes that sold in ZIP 28409 · Wilmington over the last 12 months took a median of 21 days, counted from the day they were first listed (relists included). That's up 2 days from a year ago.
What do homes in ZIP 28409 · Wilmington sell for compared to the asking price?
The median home in ZIP 28409 · Wilmington sold for 98.0% of its first asking price in the last 12 months, and 63% 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 28409 · Wilmington don't sell?
17% of homes listed in ZIP 28409 · Wilmington over the last 12 months expired or were canceled without selling — about 1 in 6 (131 didn't sell vs 643 sold). That's about the same as a year ago. The homes that didn't sell had already cut their price a median 2.2%.
What is the median sold price in ZIP 28409 · Wilmington?
The median sold price in ZIP 28409 · Wilmington over the last 12 months was $550,000, across 643 homes sold. That's up 1.9% from a year ago.
What is my home worth in ZIP 28409 · Wilmington?
The median home in ZIP 28409 · Wilmington sold for $550,000 over the last 12 months (643 sales), up about 1.9% from $540,000 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 28409 · Wilmington going down?
No — not at the median. Homes in ZIP 28409 · Wilmington sold for a median of $550,000 in the last 12 months, up about 1.9% from $540,000 the prior 12 months. More homes sold (643 vs 580), and the median time on the market went from 19 to 21 days. Prices move differently by neighborhood and price range, so check the band your home falls in below.
Where do these ZIP 28409 · 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