Real Estate Recovery in Providence Plantation in South Charlotte - Market Absorption Rate for August 2011
The real estate market in the greater Charlotte area may still be in the doldrums, but in popular South Charlotte neighborhoods like Providence Plantation, a real estate recovery may be in the making! The market absorption rate in August shows a BALANCED MARKET in Providence Plantation for the first time in several years!
Real estate market absorption rates tell us how long it will take to sell off all the existing inventory of homes for sale, assuming no new homes come on the market. A balanced market is 6 months, meaning neither buyers nor sellers are in control of the market. In Providence Plantation in South Charlotte, the August 2011 market absorption rate is 6.14 months! Homes in this highly sought-after neighborhood are selling, and average sales price is beginning to rise!
This is great news for Providence Plantation home sellers! You have far better odds of selling your house now than you did last November, when the market absorption rate was 12 months! Just last June, the absorption rate in Providence Plantation was 7.4 months!
For buyers who have been waiting for home prices to bottom out to buy a home for sale in Providence Plantation, you may want to consider jumping off the fence right NOW! Home prices in South Charlotte are rising slightly, and inventory is lower - less to choose from. Interest rates are still highly favorable, but may start to rise in the near future.
If you are interested in searching for a great home in Providence Plantation in South Charlotte, I'd be happy to show you around and tell you why I call Providence Plantation home! We have beautiful homes with a wide range of prices, a popular tennis and swim club, and some of Charlotte's best public schools!
Is there a real estate recovery in Providence Plantation in South Charlotte? Check out my chart on the Providence Plantation Market Absorption Rate for August 2011 below, and decide for yourself!