With more than 1,300 homes sold in the last year, the Leland, NC real estate market remained competitive throughout 2023. Now, as we launch into 2024, we’re seeing some significant trends buyers and sellers should pay close attention to. Let’s dive in!
Still a Seller’s Market
The current median sale price of Leland, North Carolina homes falls somewhere between the high 300s and low 400s – only slightly below where we started back in January 2023. The average buyer is now paying upwards of $210 per square foot (and even more for highly coveted 4-bedroom homes).
With demand still exceeding supply (particularly for 2 to 4-bedroom homes), the market is still technically a seller’s market.
However, the market is on the brink of turning neutral – favoring neither sellers nor buyers. We’ve seen a nearly 40% drop in total Leland home sales since January. If you’re planning to sell your home in Leland, consider taking action sooner than later, as this seller’s market won’t last much longer.
Steady Market Availability
Supply had a rocky start in 2023 but eventually steadied. From a modest 86 listings in January to a whopping 300+ in March, the market found its rhythm, remaining somewhat consistent throughout the year.
Increased “Days-on-Market”
After the frenzy of previous years, Leland homes now linger for about 50+ days. This change of pace signals a more balanced market on the horizon.
Leland Population Growth
Among the fastest growing towns in North Carolina, Leland’s population has increased over 28% since the last census in 2020. Expanding at a rate of 8.58%, the town’s 2023 population sits at around 39,623.
Who’s Moving to Leland?
Most new Lelanders come from up northeast, primarily from Maryland, New York, Pennsylvania, and Massachusetts. The town has also received an influx of new residents from Los Angeles. And, of course, we saw a good number in-state movers coming from Charlotte, Raleigh, and Greensboro.
According to the latest ACS (American Community Survey) through the Census Bureau, the demographic breakdown of Leland residents is as follows:
- White: 83.22%
- Black or African American: 10.04%
- Two or more races: 4.71%
- Other race: 1.04%
- Asian: 0.65%
- Native American: 0.33%
Furthermore, seniors make up a solid third of the adult population, solidifying Leland's reputation as a retirement haven.
Network Real Estate | Leland, NC Real Estate
Looking to buy or sell in Leland, North Carolina? Our experienced agents will help you navigate the ever-changing real estate scene and ultimately make decisions that are in your financial best interest.
Call us at 910-395-4100 to connect with an agent today.
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