Providence Plantation Real Estate Market Report for 2011
Providence Plantation in South Charlotte, NC is one of Charlotte’s most highly desired neighborhoods, and I write about it quite a bit because this is where I live! Despite the last few turbulent years in the real estate market in general, the Providence Plantation neighborhood remains a popular and sought-after neighborhood, and the real estate market report below supports it!
Why do buyers choose to buy a home for sale in Providence Plantation? There are lots of reasons, but most select this neighborhood because of its wide array of home styles and prices, its large lots with mature trees and landscaping, its top-ranked public schools, and it’s enjoyable Providence Plantation lifestyle!I have prepared my year-end Providence Plantation real estate market report for 2011 for your information and guidance. As you will see in the table below, the average sales price in Providence Plantation in 2011 was $425,000, which shows a market correction to about 2005 sales prices (much better than much of Charlotte and the nation!). The peak sales year for Providence Plantation in South Charlotte was 2007, when the average sales price was $491,000! The good news is that sales prices have begun to stabilize in the large neighborhood: the average sales price in 2011 was just 2% less than 2010, and 2010 was just .05% less than 2009. I am seeing the number of active homes for sale in Providence Plantation increase over the last few weeks as sellers prepare to take advantage of the typically robust spring selling season in Charlotte.
If you having been thinking of buying a home for sale in Providence Plantation, or if you need help and advice on listing your home for sale in Providence Plantation, I would be thrilled to help you! My family has called Providence Plantation “home” since 1998! My children attended award-winning Providence Spring Elementary School, Crestdale Middle School, and Providence High School, and my family and I have thoroughly enjoyed the awesome Providence Plantation Racquet and Swim Club (I play year-round tennis there!).
Providence Plantation Absorption Rate
You may have heard about absorption rates in real estate. Basically, the absorption rate measures how long it would take to sell all of the existing homes on the market, assuming no new homes come on the market. A balanced real estate market between buyers and sellers is about 6 months. If the rate is over 6 months, we have a buyers’ market; if it’s under 6 months, we have a sellers’ market. Check out my Providence Plantation absorption rate analysis below. This data indicates that the 3-month absorption rate in Providence Plantation is 10 months. However, we are just emerging from the slowest real estate period of the year (holidays and winter). I am already seeing increased showing activity in Providence Plantation, which generally leads to more contracts! My prediction is that we will have a balanced market in Providence Plantation by this summer!
Call me to get started on your home buying or selling journey! I'm a great listener and problem solver, and I would love to help you discover Charlotte neighborhoods, or provide you with some of the best marketing to get your home SOLD!
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