Providence Plantation Neighborhood Real Estate Market Report for 2012 (published in January 2013)
As we close out 2012, I am pleased to share my Providence Plantation Real Estate Market Report for 2012 and provide a review of the neighborhood for the past 10 years. Providence Plantation, one of South Charlotte's most sought-after neighborhoods has rebounded from the real estate market crisis that impacted neighborhoods nationwide. My own anecdotal data from listing and selling homes in Providence Plantation this year reinforces my belief that homebuyers continue to seek the convenient and popular lifestyle available in the neighborhood. I had two listings this summer that went under contract in less than two weeks, and I had the highest sale in Providence Plantation in 4 years!
Providence Plantation Market Facts for 2012
- The average sales price in Providence Plantation for 2012 was roughly $422,000, down .8% from 2011. If not for the last 2 months of the year (the typical slow real estate months) I think 2012 would have recorded a gain from 2011.
- 68 homes were sold in Providence Plantation neighborhood in 2012, an increase of 2 homes from 2011
- The average price per square foot was $114, up from $113 in 2011.
- Sellers got an average of 95% of their asking price
- Sales prices ranged from a low of $191,200 to a high of $986,500
- The top selling months were May (4 homes), June (12), August (12) and October (9)
- Average sales price was the highest in the month of August, at $486,011
- Providence Plantation home prices have fallen to near 2005 levels (a lot better than many neighborhoods in Charlotte!)
- There is currently a 7 month supply of homes in Providence Plantation (based on the last 3 months, the slowest real estate time of the year). For the past 6 months, there is a 4.59 month supply of homes in Providence Plantation, signaling a seller's market.
Forecast for Providence Plantation in 2013
I'm very excited about the real estate market for Providence Plantation in 2013. As of this writing in January of 2013, our inventory of homes for sale in the neighborhood is at an all-time low, at just 26 homes for sale. Once more homes are listed for sale in Providence Plantation during the hot spring real estate market, I anticipate that both the number of sales AND sales prices will go up. With an improving economy, and historically low mortgage interest rates that greatly increase a buyer's purchasing power, more buyers can afford to live in Providence Plantation. Since the neighborhood enjoys some of the best public schools in Charlotte, a convenient location, an active swim and tennis club, and a thriving social scene and lifestyle (activities and clubs that bring the community together), I predict a ROBUST real estate market in Providence Plantation in 2013!
Providence Plantation Real Estate Expert
If you're looking for an experienced Realtor who REALLY knows Providence Plantation to help you with buying or selling in the neighborhood, please give me a call. I've lived in Providence Plantation for 14 years, and I focus my business on this and other South Charlotte neighborhoods. My three kids all attended the great public schools zoned for Providence Plantation - Providence Spring Elementary School, Crestdale Middle School, and Providence High School. Our whole family has thoroughly enjoyed our membership in the Providence Plantation Racquet and Swim Club. I'd love to hear how I can help you with your real estate needs, and I look forward to hearing from you! Call or text me at 704-654-9700, email me, and/or visit my website for more information and South Charlotte home searches!