Providence Woods South - Real Estate Market Report

How’s the Charlotte Real Estate Market Doing in Providence Woods South?

One of Charlotte area’s premier neighborhoods in the Weddington School Zone, Providence Woods South offers larger lot sizes and a variety of architectural design. Dotted among the mature landscape, homes chock full of character are a major draw to this popular Charlotte NC neighborhood.

The market is doing quite well in the Providence Woods South community:

Average sales prices are up 9% year-over-year.

List-to-sales price ratios are up to 93.7%

Average price per square foot is up 7% to $107/heated square foot

And, remember that the real estate market operates on a supply and demand theory, with the absorption rate being your most reliable statistic to ascertain pricing on a home is accurate. With regards to the absorption rate, 6 months of inventory is indicative of a balanced market. Anything over 6 months is a buyers’ market and anything less than 6 months, means that sellers dictate their price. The months of supply/inventory in the Providence Woods South community is currently 1.7, a ‘hot’ market for sellers!