Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: ZIP 28557 · Morehead City
November 1, 2026
(910) 395‑1000 · buddyblake.com
One in five homes in 28557 didn't sell in the last 12 months
Around Morehead City, 249 homes sold and 65 listings ended without a sale over the last 12 months. That's 21% of listings, up from 18% the year before. Typical homes sold in 28 days, but the price you list at matters more than anything else.
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 28557 · Morehead 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 8 days. Needed price cuts: 59 days, and sold for 91.6% of the first price.
What waiting costs
| Property taxes | $82 |
| Homeowners insurance | $250 |
| Upkeep | $363 |
| Utilities | $250 |
| Your mortgage payment | if you have one |
| About | $948 + mortgage |
About $948 every month the home sits — plus your mortgage payment.
Listings that didn't sell stayed on the market a median of 162 days — roughly $5,054 in taxes, insurance, upkeep and utilities alone, and the home still didn't sell.
An example, not a quote: Carteret County rate 0.225 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%
57 of about 306 before closing
Those homes that later sold
68%
28% never sold
Sold vs. first ask after a fall-through
93.4%
vs. 95.9% on the first contract
Days to sell after a fall-through
82
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 44% · cash 43% · VA 8% · FHA 2%.
If you're selling
- Price it right on day one. Listings priced right sold in a median of 8 days.
- Know where the trouble is. $500–750K homes had the highest didn't-sell rate, at 27%.
- Waiting costs money. Homes that never sold sat a median of 162 days and got a median price cut of 1.8%.
- Get the house ready for inspection and appraisal. Those are the most common reasons contracts fall apart in this area, based on general industry experience.
If you're buying
- There's room to negotiate. 77% of homes sold below their first asking price, and the median sold price came in at 95.2% of first ask.
- Homes that sit can be your opening. Listings that never sold had a median of 162 days on market.
- Most buyers are paying cash or conventional. Cash was 43% and conventional was 44%, with VA at 8% and FHA at 2%.
Did you know?
- Contracts fell apart on 19% of listings, about one in five.
- Homes that had a contract fall through later sold 68% of the time, and 26% never sold.
- Estimated carrying costs for a typical $435,000 home run about $948 a month before mortgage, or about $5,054 before mortgage while it sits unsold.
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For sellers
Listings that didn't sell
21%
up 2.3 pts from a year ago
66 expired or canceled vs 249 sold
Sold vs. first asking price
95.2%
down 1.3 pts from a year ago
median sale price ÷ original list price
Sold below first asking
77%
share of homes that sold
Price cut on homes that didn't sell
1.8%
median — and they still didn't sell
For buyers
True days on market
27
down 3 days from a year ago
median for sold homes, counted from the first listing
Typical room below first ask
4.8%
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
$444K
up 5.7% from a year ago
249 homes sold
The last 24 months
26% latest month · Oct 26
80 latest month · Oct 26
90.9% latest month · Oct 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 41 | 10 | 20% | 23 | 96.3% |
| $300–400K | 46 | 7 | 13% | 15 | 95.4% |
| $400–500K | 47 | 11 | 19% | 48 | 93.5% |
| $500–750K | 56 | 19 | 25% | 40 | 95.5% |
| $750K–1M | 23 | 8 | 26% | 63 | 94.5% |
| $1M+ | 36 | 11 | 23% | 7 | 100.0% |
ZIP 28557 · Morehead City housing market: quick answers
How long do homes take to sell in ZIP 28557 · Morehead City?
Homes that sold in ZIP 28557 · Morehead City over the last 12 months took a median of 27 days, counted from the day they were first listed (relists included). That's down 3 days from a year ago.
What do homes in ZIP 28557 · Morehead City sell for compared to the asking price?
The median home in ZIP 28557 · Morehead City sold for 95.2% of its first asking price in the last 12 months, and 77% of the homes that sold went for less than the original price. That's down 1.3 pts from a year ago.
What percentage of homes listed in ZIP 28557 · Morehead City don't sell?
21% of homes listed in ZIP 28557 · Morehead City over the last 12 months expired or were canceled without selling — about 1 in 5 (66 didn't sell vs 249 sold). That's up 2.3 pts from a year ago. The homes that didn't sell had already cut their price a median 1.8%.
What is the median sold price in ZIP 28557 · Morehead City?
The median sold price in ZIP 28557 · Morehead City over the last 12 months was $444,000, across 249 homes sold. That's up 5.7% from a year ago.
What is my home worth in ZIP 28557 · Morehead City?
The median home in ZIP 28557 · Morehead City sold for $444,000 over the last 12 months (249 sales), up about 5.7% from $419,950 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 28557 · Morehead City going down?
No — not at the median. Homes in ZIP 28557 · Morehead City sold for a median of $444,000 in the last 12 months, up about 5.7% from $419,950 the prior 12 months. More homes sold (249 vs 230), and the median time on the market went from 30 to 27 days. Prices move differently by neighborhood and price range, so check the band your home falls in below.
Where do these ZIP 28557 · Morehead City 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