Raleigh housing market: Everything you need to know
This capital city has a booming population and a real estate market to match.
The Leland housing market isn’t that competitive. The median home sales price in January 2025 has decreased in the past 3 months to $364,990. That’s up 0.8% and $2,990 higher than January 2024 of last year. That is higher than the North Carolina state median home sales price of $367,600. Homes typically sell after 77 days on market, which is slower than the state average and higher than 50 days in January 2024 a year prior.
1 year
3 year
5 year
The median home price in Leland was $364,990 in January 2025, up 0.8% from last year.
1 year
3 year
5 year
The real estate market in Leland had 166 homes for sale in January and is down from 189 homes for sale the month prior and up from 158 homes in January 2024.
1 year
3 year
5 year
There were 53 homes sold in January 2025, trending down from 63 homes sold a year ago.
1 year
3 year
5 year
Homes in Leland are staying on the market for 77 days. That’s 27 days slower than the median in January 2024, which means that the market is less competitive today.
It is considered a seller’s market right now. Housing inventory is down since last year, which means supply is more constrained. Mortgage rates are 7.1%, making the average house payment $2,522, which is $104 higher than a year before.
Total months of housing supply available for sale is 3.1 months, up 6.9% from 2.9 month(s) in January 2024.
The Months of Supply housing metric is an estimate of how long it would take to sell all the homes for sale relative to the number of homes sold each month. Historically, 5 to 6 months is the average. You may also hear this metric referred to as the "absorption rate."
Lower months of housing supply typically signal a seller’s market whereas when months of supply is greater than 6 months typically signal a buyer’s market.
Sales to Listing Ratios are an indicator of supply and demand. It is all the completed sales in the past month divided by the total number of active listings.
In a balanced real estate market, the total number of home sales to active listings ratio is between 0.12 and 0.2 while markets with a ratio higher than 0.2 favors seller’s, as homes are selling fast and there is limited inventory, while markets below 0.12 favor home buyers because there is a larger supply of homes to purchase.
Home values have increased by 0.8% since last year, and the number of days it takes to sell a home has increased from 50 days in January 2024 to 77 days in January 2025.
The best time to sell your home in Leland is in June, when homes sell fastest and for the most money.
Sellers typically pay the commission of both the listing and buyer’s agents, which typically total 5-6% of the home sale price. That’s $21,899 paid in commission to the real estate agents. You’d also need to factor in closing costs, plus other fees and your mortgage payoff amount, to calculate the net proceeds from your home sale.
Homes in Leland have a median price of $364,990, which means you’ll need $36,499 for a 10% down payment. Housing costs have increased 0.8% in the past year. When you’re several months out and have your down payment saved, make sure to get pre-approved for a mortgage and find a real estate agent.
Home values are only one part of the home affordability equation. When buying a house in Leland, don’t forget to also account for closing costs, which are typically 3-4% of the home cost. In addition to a down payment of $36,499 you should have $14,600 as well as budget for cash reserves, moving expenses and ongoing homeownership costs for home maintenance and repairs or HOA fees.
Leland home values are 8.6% cheaper than Wilmington and 0.7% cheaper than the state median home value.
The Leland real estate market has a median sale price of $364,990, which is 0.7% lower than the state median sale price of $367,600. Compare other markets or nearby cities, as they can vary significantly.
Leland, NC | Wilmington, NC | North Carolina |
---|---|---|
Median home sale | Median home sale | Median home sale |
$364,990 | $396,500 | $367,600 |
Days on market | Days on market | Days on market |
77 | 36 | 63 |
Monthly house payment | Monthly house payment | Monthly house payment |
$2,522 | $2,734 | $2,539 |
Cost to buy a house | Cost to buy a house | Cost to buy a house |
$51,099 | $55,510 | $51,464 |
Cost to sell a house | Cost to sell a house | Cost to sell a house |
$25,549 | $27,755 | $25,732 |
Navigating the Leland housing market can be tricky, but you don’t have to go it alone. When you're ready to learn more, reach out to a local Leland real estate agent to get the process started. We recommend interviewing multiple candidates and coming prepared with a list of all your questions.
Raleigh housing market: Everything you need to know
This capital city has a booming population and a real estate market to match.
The capital city of North Carolina is a popular area, with high home prices to match.
Sell your home fast in Raleigh, NC
Homes in North Carolina’s capital are taking longer to sell than they did last year.
Buying a house in Charlotte, NC
Charlotte is a competitive market for homebuyers.
Charlotte housing market: Everything you need to know
Charlotte homebuyers and sellers both have reason to be hopeful.
Sell your home fast in Charlotte
Home prices in Charlotte are on the decline.