Terrapin is Leland's newest master-planned community, and it is filling in fast: 86 new homes closed there in the last 12 months, and another 27 are under contract. The Oasis amenity center is now going up, and with several builders selling at once, buyers have more choices here than almost anywhere else in northern Brunswick County.

Here is where Terrapin stands this fall: what's under construction, who's building, what homes are selling for, and what it costs to live there.

Where Is Terrapin?

Terrapin sits right off Highway 17/74 in Leland, about 15 to 20 minutes from downtown Wilmington. Wilmington International Airport, the hospitals and the Villages at Brunswick Forest shopping center are all nearby, and both the Brunswick County and New Hanover County beaches are within about 30 to 45 minutes.

The community is developed by Logan Developers, Inc., the Wilmington-area company behind Logan Homes, and is planned for more than 2,000 homes, a mix of single-family homes, duplexes and townhomes, along with more than 15 acres of commercial and retail space.

Construction Update: The Oasis Is Going Up

The centerpiece of Terrapin is The Oasis, the community's amenity center. Based on the builders' published plans, it will include:

  • Resort-style pools and a clubhouse
  • A fitness center
  • Pickleball and tennis courts, plus bocce
  • Lake Terrapin, with a fishing dock, a kayak launch and a sandy lakeside beach
  • Walking and biking trails, sidewalks, a dog park, playgrounds and neighborhood fire pits

The community is also designed to be golf cart friendly. Here's how it looked when we walked the site in mid-October 2026.

The Oasis clubhouse at Terrapin with new palms and landscaping, October 2026
The clubhouse exterior is nearly finished, with palms, sod and landscaping going in. October 2026.

Out back, the main pool is shelled in and surrounded by a travertine deck, with cabanas and shade structures framed around it. The pool still needs its finish and water, but you can already see the resort feel taking shape.

Main pool under construction with travertine deck and clubhouse behind
Main pool and travertine deck, with the clubhouse behind. October 2026.
Pool deck and cabanas under construction at The Oasis
The pool deck and cabanas. October 2026.
Sunset through the pergolas at The Oasis looking toward Lake Terrapin
Pergolas along the pool frame the view to Lake Terrapin. October 2026.
Spa under construction at The Oasis with a playground in the background
The spa is shelled in, with the new playground in the background. October 2026.

Down at the water, the fishing dock is built out on Lake Terrapin, lakeside pavilions are up, and crews are grading the beach area and forming what looks to be a fire pit circle.

Fishing dock on Lake Terrapin at sunset
The fishing dock on Lake Terrapin at sunset. October 2026.
Lakeside pavilions and a fire pit area being formed at Terrapin
Lakeside pavilions, with a fire pit area being formed. October 2026.

Photos: Coastline Real Estate Team. Amenity plans can change as construction moves along, so ask us for the latest when you tour.

Villages and Builders

Terrapin is laid out as a set of villages, each with its own home style and price point. Here's what is selling now:

Village or builder Home type Size (sq ft) Starting price
The Villas at Osprey Reserve (Logan Homes) Townhomes 1,243 - 1,731 High $200s
The Towns at Osprey Reserve (Logan Homes) Two-story townhomes 1,644 - 1,799 Low $300s
The Duets at Calm Waters (Logan Homes) Duplexes 1,675 - 2,017 Low $400s
The Reserve at Coquina Basin (Logan Homes) Single-family 1,607 - 2,512 Low $400s
Enclave at Calm Waters (Logan Homes) Single-family 1,880 - 3,044 Mid $500s
McKee Homes Single-family, including ranch and multigenerational plans 1,492 - 3,509 High $300s
Chesapeake Homes Single-family, one and two story 1,483 - 3,349 Mid $300s

Starting prices from builder websites as of October 2026; they change often and don't include lot premiums or options.

More builders are on the way: Atlantic Homes, Kent Homes and Legacy Homes by Bill Clark were announced for later phases. Many builders are offering incentives right now, such as rate buy-downs and closing-cost credits, which matters when you compare prices.

Terrapin Market Snapshot

86 homes closed in Terrapin in the 12 months ending October 16, 2026, at a median price of $477,368. Every one was new construction built in 2025 or 2026, and typical sales ran from about $409,000 to $551,000.

Last 12 months Terrapin
Homes sold 86 (85 single-family, 1 townhome)
Median sale price $477,368
Typical price range $409K - $551K
Median price per sq ft $226
Median heated sq ft 2,251
Most common size 4 bedrooms (49 of 86 sales)
Median days on market 40
Median annual HOA dues (single-family) $1,976

Source: Hive MLS, closed sales October 2025 to October 16, 2026, plus active and pending listings as of October 2026. Ranges show the 10th to 90th percentile.

What it means for buyers: homes sold at full list price at the median, but that doesn't tell the whole story. About 64% of sales included seller concessions, with a median of roughly $6,700 toward the buyer's costs, so builder incentives are where the real negotiating happens. June was the busiest month, with 21 closings.

On the market right now: 33 homes are listed for sale in Terrapin at a median asking price of $451,500, from about $322,000 to $633,000. That includes 11 townhomes, at a median of $329,900, and 22 single-family homes, at a median of $489,800. Another 27 homes are under contract.

Homesites for sale: 51 lots are listed in Terrapin right now, priced from $160,000 to $230,000, with a median asking price of $185,000.

What Do HOA Dues Cost?

Most single-family homes in Terrapin pay about $1,976 a year in combined association dues, which is about half of what Brunswick Forest owners pay. In many sections the dues include lawn maintenance, so check the specific village before you buy.

Schools

Terrapin is served by Brunswick County Schools. The builders list Town Creek Elementary, Town Creek Middle and North Brunswick High for the community. Attendance zones can change as Leland grows, so confirm the assignment for a specific address with Brunswick County Schools.

Who Is Terrapin a Good Fit For?

  • Buyers who want new construction and a choice of builders, floor plans and price points in one community
  • First-time buyers and downsizers looking at townhomes and villas from the high $200s to low $300s
  • Families who want 4-bedroom homes, a pool, a lake and trails at a lower price per square foot than older amenity communities
  • Buyers who want lower HOA dues than Brunswick Forest or Compass Pointe, with amenities still on the way

Nearby Leland Communities to Compare

Community Homes sold Median sale price Typical range Median $/sq ft Median annual HOA
Terrapin 86 $477,368 $409K - $551K $226 $1,976
Brunswick Forest 206 $575,000 $414K - $856K $240 $3,750
Waterford of the Carolinas 42 $498,500 $384K - $736K $227 $1,687
Magnolia Greens 51 $515,000 $315K - $659K $225 $790
Indigo Preserve 99 $418,840 $287K - $506K $187 $1,200
Grayson Park 78 $375,000 $260K - $446K $177 $996

Source: Hive MLS closed sales, trailing 12 months as of October 16, 2026; single-family, townhome and condo sales; ranges show the 10th to 90th percentile.

Thinking About Terrapin?

With several builders, incentives that change month to month and amenities still under construction, it pays to have someone on your side who knows the community. We can help you compare builders, villages and incentives, and walk the site with you.

See Terrapin Homes for Sale Schedule a Tour

Community details: Logan Homes, McKee Homes, Chesapeake Homes and Wilmington Today.