I'll be honest, where I teach The Homeschool kids are often a little behind those that have gone to public school their whole lives. I teach at Junior High which is when they start transitioning from arithmetic to algebra from basic reading to composition and from cool little kid science projects to understanding the atom, Etc.
But the homeschool kids very quickly catch up. As you say, they are often Leaps and Bounds ahead of their peers socially. One big difference, is that they know how to talk to grown-ups. They know how to answer a phone correctly, they rarely say the word yo. Nearly all of them had parents who involved them with sports with art clubs with scouting, etc. So there is no deficit in socializing with their peers.