Terrapin in Leland: New Homes, Prices and What Buyers Should Know

0:00Welcome to Real Stories with Buddy Blake. Today's episode features real estate insights from Buddy Blake. Okay, so, Buddy, I feel like every time I turn around, somebody's asking me about this new neighborhood in Leland, Terrapin.

0:19What's the deal? Is this actually a real thing, or just like a sign on the highway that got people excited? No, it's real. It's real.

0:27I get asked about it more than most Leland neighborhoods lately, honestly. And I think that's exactly why. People see it's brand new, and they want to know, is this legit? Is it going to be worth it?

0:38So let's just look at the numbers and the homes themselves. That's usually the best way to answer that. Right. Cut through the hype.

0:46So where exactly are we talking about? Terrapin's in Leland, Brunswick County. And everything being built there is new construction. We're talking homes going up between 2025 and 2027.

0:58So this is very much a still-growing community, not something that's fully finished yet. So if I'm shopping there right now, what am I actually looking at? Move-in-ready stuff, or still-under-construction stuff? Or both?

1:11Both, honestly. That's kind of the nature of it right now. You've got a mix of homes ready to move into and homes still being built. So depending on your timeline, there's options either way.

1:22Okay, walk me through the actual homes. What are people building out there? So there's two kinds, single-family houses and townhomes. Right now, there's 26 single-family homes on the market and 10 townhomes.

1:34So single-family is definitely the more common option, but the townhomes give you that lower maintenance choice if you want it. Same neighborhood. And size-wise, what's typical?

1:46Typical home runs about 2,225 square feet and four bedrooms is the most common layout. So that's a size that works if you've got a family needing the bedroom space, or honestly, even if you just want a home office and a guest room. Okay, let's talk money, because I know that's what everybody actually wants to know.

2:04Yeah, always. So there's 36 homes for sale in Terrapin right now. Asking prices range from $299,900 all the way up to $749,900. Median asking price is $460,379.

2:23That's a huge range though, $300,000 to almost $750,000. What's causing that big of a spread? That tells me there's real variety in lot size, floor plan, finish level within the neighborhood.

2:36This isn't a one-price-fits-all situation. You can find something on the more affordable end or go bigger and higher end, depending what you want. Okay, so with 36 on the market, how many of those are actually still available versus already spoken for?

2:5230 of the 36 are already under contract. That's a meaningful chunk of the current inventory right there. Whoa, 30 out of 36? That's most of it.

3:03It is, and over the last 12 months, 78 homes have sold in Terrapin at a median price of $474,624. Typical sold homes spend about 39 days on the market before going under contract. 39 days doesn't sound like much time at all.

3:22It's not, honestly not in this market. And when you combine that with 30 of 36 active listings already under contract, it tells you buyers are actively choosing this neighborhood. It's not just sitting there.

3:35So who is this actually a good fit for? Like who should be putting Terrapin on their list? If you want a new home in Leland and you like having that choice between single family and townhome living, four bedroom layout, and you don't mind a neighborhood that's still filling in rather than fully built out, yeah, put it on your list.

3:55And honestly, it's worth thinking through Leland versus Wilmington too, what you get for your money in each spot, because that changes the picture some for folks. And what about the person who's like, I already own a home. I'd love to move into something like this, but I got to sell first.

4:13Is that a conversation you have a lot? All the time, every week, honestly. That's exactly the kind of thing I walk sellers through, figuring out how to time it right so you're not stuck juggling two mortgages or missing out on a place you like.

4:26It's a real conversation, not a small detail. This has been really helpful, buddy. So if somebody's listening and they're curious about Terrapin, or honestly anywhere else in Leland, what should they do?

4:39Just give me a call or text, 910-395-1000. Happy to talk it through, no pressure, just answer questions. And the full article's linked in the show notes if you want to dig into the numbers yourself.

4:53Love it. Buddy, thanks so much for breaking this down. Always learn something new talking to you. Anytime.

5:00Thanks for having me. Thanks for listening to Real Stories with Buddy Blake. For the full article and more, check the show notes. See you next time.