Providence Plantation Neighborhood - Real Estate Market Review for 2013
What a difference a year makes! Providence Plantation in South Charlotte, NC enjoyed a resurgence in 2013 in both the number of homes sold and the average sold price. My Providence Plantation real estate market report for 2013 shows a robust 10.92% increase in average price of homes sold, and a 24% increase in the number of homes sold. The chart below paints a vivid picture of the rebound in sales prices in Providence Plantation.
I think the graph clearly shows that the Providence Plantation real estate market has weathered the storm, and is back to almost 2006 levels. The 2013 average sales price of $468,145 is not far off from the peak neighborhood prices in 2007 of $481,640. After the market crash in 2008, Providence Plantation endured a fairly consistent drop in average prices until the turnaround in 2013. Most neighborhoods in South Charlotte, NC hit bottom in 2012, and began to rebound in 2013.
How fast are homes selling in Providence Plantation in South Charlotte?
One of the tools realtors use to determine supply and demand in a neighborhood, is to look at the market absorption rate. This number calculates how many homes are selling per month in a given neighborhood, and then using that number, calculates how long it will take to sell all of the current inventory (assuming no new homes come on the market). A 6-month absorption rate is considered a balanced market. Let’s take a look at the absorption rate in Providence Plantation:
What does the market look like in Providence Plantation?
If you are interested in buying a home for sale in Providence Plantation, or putting your Providence Plantation home on the market, I would love to discuss this market report and what it means to you. My family has lived in Providence Plantation since 1998, and I share everything I know about the schools, community, and nearby sports and entertainment options. Just call or text me, or fill out the contact form, and I will thrilled to help you and your family!
In the meantime, enjoy my interactive search map below. It’s set up so you can learn all about that Providence Plantation lifestyle!