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Market Snapshot: Landfall Main Photo

Market Snapshot: Landfall


Posted: September 05, 2017 by Melanie Cameron

One of the most sought-after communities in WilmingtonLandfall is frequently portrayed as the height of luxury. Though not entirely undeserving of the title—it does feature gated security, a pool, clubhouse, golf course, and other cool stuff—mansions out of The Great Gatsby don’t compose the neighborhood. On the whole, excellently crafted single-family, patio, and townhomes compose most of Landfall. Quite large, the community possesses much more diversity than people realize, which is reflected in this week’s market report that takes a look at current listings and the past six months in Landfall.

Active

Landfall has 119 active listings currently with an average list price of $1,057,557 and median list price of $844,999. On average, the homes have spent 183 days on the market (DOM). The median DOM was more reasonable at 126 days.

These higher numbers reflect the top of Landfall’s market, where there are fewer buyers and homes stay on the market for longer. Home sales over the past six months show the diversity of homes in Landfall. While some higher priced luxury homes remain unsold, plenty of more moderately priced lots and homes have been scooped up.


Sales

Over the past six months, 72 homes have been sold in Landfall. The average sale price was $716,035. However, there were several seven-figure outliers that brought up the average. The median was a slightly more modest $607,500. Almost mirroring active listings, sold homes’ average DOM and median DOM were 181 and 126, respectively.

As with the rest of the country’s housing market, Landfall continues to be a seller’s market.


Pending

Currently, there are 12 pending contracts in Landfall. These homes are at the higher end of Landfall’s market with an average sale price of $1,156,982 and median sale price of $699,00 while being on the market for 173 and 214 days, respectively.

These pending sales highlight the overall trend of the country’s housing market, which continues to chug along at a steady pace. After opening the year with a staggering volume of home sales, the market has cooled to a more reasonable level. Although, the prices and volume still remain above those before the housing crisis.


Landfall continues to surge as an excellent place for both buyers and sellers. The steady growth of the community echoes that of the country as a diverse inventory of resale homes are available. However, developers are still building new homes in the community. Although rising prices have benefited sellers, the mixed inventory keeps prices lower for buyers and incentivizes sellers to make renovations, repairs, and alterations to their homes to provide a better product.

For more information on Landfall or any other communities in the area, contact the Cameron Team.

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