Latest Insights on Leland real estate market -- price decrease?

Leland Days on Market Shoots Up

Update March 2024....The market action index for Leland real estate had dropped to 33 by November 2023. As of March 2024 it is back to 39 and there is definitely an increase in demand that I am experiences.  Remember for you can learn about Mallory Creek Plantation here.

The Leland real estate market is completely different than a year ago I will say that it is made a 90° turn. That is to say it is not a flat-out buyer's market where buyers have a ton of options and lowball on various properties, but it is not a seller's market in the same way either. For example you used to find that most of the listings probably 80% would be under contract in the first 5 days and many of them had multiple offers within 2 days. Now it is customary for a portion of the new listings to go under contract let's say four out of 10 or 5 out of 10 for example in the first week of listing. But then the other five that did not go under contract will be listed for 3 to 6 weeks--see graphic below!

This is an extreme change in the market to a more balanced Market. However the good listings that are hot listings still usually go under contract within a few days but that can also not hold up because if several good ones in the same niche list the same week then half of them will be extended to three plus weeks of being active so everything is case-by-case. The things that massively changed and you see the changes coming weekly.

Example of shifting real estate demand in Leland

For example a couple weeks ago I had this market update from Altos research and it showed the index at 47; 2 weeks later the index has moved down to 43. A 40 Market action index equals a balanced market so it's just barely a seller's market right now and it's changing weekly or a monthly and we'll see where it ends up. The inventory has gone up significantly even though it's relatively low I think we're still like two and a half months of inventory.

 

What does this mean for Leland Buyers and Sellers?

So how does this play out in the market when you're a buyer and seller of Leland homes? Well on the buy side if you are very impressed by a home that means others will be as well and you really need to try and get on top of it by day one or day two with an offer. And then you hope there are no competing offers. But you really don't have a good opportunity to negotiate. If you see the home and it's already been listed a week well then there's a good chance there was not demand for it, and it might take several weeks for it to sell. This opens up the door for some lower offers and negotiating and making the point that well you're off on your price otherwise it would have been under contract already....Now on the seller side you need to know that if you're fortunate and your home shows very well and it's what I call "shiny" and crisp there's a good chance it will sell the first week. However if it does not you can easily be listed up to a month or more. It's sort of the luck of the draw depending on which buyer is out there when you happen to list and what other homes listed around the same time you did.  And no holding an open house will not change anything Smile.

 

257 Properties
Page 1 of 11
$249,000
Neighborhood: Westover
3
Beds
2
Baths
1,620
Sq.Ft.
2007
Year Built
1
Day on Site
100457145
MLS
$515,000
Neighborhood: Forest Oaks
3
Beds
2F11/2
Baths
2,548
Sq.Ft.
1979
Year Built
2
Days on Site
100457062
MLS
$407,991
Neighborhood: Brunswick Forest
4
Beds
2
Baths
1,774
Sq.Ft.
2023
Year Built
2
Days on Site
100457095
MLS
$254,999
Neighborhood: Grayson Park
3
Beds
2F11/2
Baths
1,418
Sq.Ft.
2024
Year Built
2
Days on Site
100457098
MLS
$1,189,000
Neighborhood: Waterford Of The Carolinas
4
Beds
3F11/2
Baths
3,933
Sq.Ft.
2007
Year Built
3
Days on Site
100456908
MLS
$850,000
Neighborhood: Brunswick Forest
3
Beds
3
Baths
3,230
Sq.Ft.
2008
Year Built
4
Days on Site
100456729
MLS
$360,000
Neighborhood: Lyn Marie
4
Beds
2
Baths
1,958
Sq.Ft.
2004
Year Built
5
Days on Site
100456588
MLS
$495,000
Neighborhood: Compass Pointe
3
Beds
3
Baths
2,219
Sq.Ft.
2012
Year Built
5
Days on Site
100456731
MLS
$450,000
Neighborhood: Magnolia Greens
3
Beds
3
Baths
2,147
Sq.Ft.
2009
Year Built
5
Days on Site
100456790
MLS
$399,990
Neighborhood: Grayson Park
4
Beds
2F11/2
Baths
1,981
Sq.Ft.
2024
Year Built
6
Days on Site
100456424
MLS
$349,900
Neighborhood: Hawkeswater At The River
3
Beds
3
Baths
1,850
Sq.Ft.
2015
Year Built
6
Days on Site
100456445
MLS
$335,000
Neighborhood: Northern Lights
3
Beds
2F11/2
Baths
1,622
Sq.Ft.
2021
Year Built
7
Days on Site
100456094
MLS
3
Beds
2
Baths
1,440
Sq.Ft.
2020
Year Built
7
Days on Site
100456173
MLS
$819,000
Neighborhood: Brunswick Forest
3
Beds
4
Baths
3,668
Sq.Ft.
2013
Year Built
7
Days on Site
100454059
MLS
$282,000
Neighborhood: Ibis Landing
3
Beds
2F11/2
Baths
1,575
Sq.Ft.
2021
Year Built
8
Days on Site
100433775
MLS
$514,900
Neighborhood: Magnolia Greens
3
Beds
3
Baths
2,075
Sq.Ft.
2005
Year Built
8
Days on Site
100456024
MLS
$340,900
Neighborhood: Sunrise Terrace
4
Beds
2
Baths
1,799
Sq.Ft.
2019
Year Built
10
Days on Site
100455683
MLS
$235,000
Neighborhood: The Willows At Leland
2
Beds
2
Baths
1,091
Sq.Ft.
2008
Year Built
10
Days on Site
100455488
MLS
Open 7/28
1111 Lillibridge Dr Leland,  NC 28451
$419,000
Neighborhood: Brunswick Forest
3
Beds
2
Baths
1,989
Sq.Ft.
2007
Year Built
11
Days on Site
100455574
MLS
$569,900
Neighborhood: Magnolia Greens
5
Beds
3
Baths
2,458
Sq.Ft.
2007
Year Built
12
Days on Site
100455323
MLS
$645,825
Neighborhood: The Bluffs On The Cape Fear
2
Beds
3F11/2
Baths
2,218
Sq.Ft.
2024
Year Built
12
Days on Site
100455357
MLS
$274,990
Neighborhood: Grayson Park
4
Beds
2F11/2
Baths
1,554
Sq.Ft.
2024
Year Built
12
Days on Site
100455471
MLS
$389,900
Neighborhood: Cypress Bay
3
Beds
2
Baths
1,898
Sq.Ft.
2024
Year Built
13
Days on Site
100455129
MLS
Open 7/27
2316 Villager Ct Leland,  NC 28451
$710,000
Neighborhood: Brunswick Forest
3
Beds
3F11/2
Baths
2,851
Sq.Ft.
2008
Year Built
13
Days on Site
100455146
MLS

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