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Providence Woods in Weddington NC--2010 Real Estate Market Update

Providence Woods in Weddington NC—2010 Real Estate Market Update

Providence Woods is a classic Weddington NC neighborhood of acre or larger lots and mostly full-brick colonial or georgian style homes. There are two sections of Providence Woods called Providence Woods and Providence Woods South. Built in the 1980s and 1990s, Providence Woods South has the newer homes. Providence Woods residents enjoy the privacy afforded by their beautiful wooded lots and convenient access to South Charlotte’s amenities.

How did the 2010 real estate market in Providence Woods compare with the 2009 market in the neighborhood? The table below shows median values for several characteristics of the marketplace. Thirteen homes sold in the neighborhood in 2010 compared with only three in 2009.

Providence Woods Real Estate Market Comparison

Median sales prices in Providence Woods dropped 18.2% in 2010. Slightly smaller homes were selling in the neighborhood as the median square footage dropped 7.6%. Median days on market doubled while the list-to-sale ratio dropped to 94%.

Market resales accounted for nearly 77% of the sales in 2010. There were three foreclosures in Providence Woods helping to drive the median sales price down.

Single Family Homes

Providence Woods
Single Family Market Update
Median Closed PriceMedian Home Square FootageMedian Days on MarketMedian List to Sale Ratio
Year 2009$403,750318043100.5%
Year 2010$330,25029378594%

Source: Carolina Multiple Listing Service

Providence Woods Types of Closed Sales

Providence Woods Sales TypesNumber of Closed SalesPercentage of Closed Sales
Resale1076.9%
New Constructionn/an/a
Foreclosure323.1%
Short Salen/an/a

Source: Carolina Multiple Listing Service

Read more about Providence Woods, its community amenities, builders and public schools: Providence Woods in Weddington NC: Homes for Sale and Neighborhood Profile

Providence Woods Homes for Sale

Click here to see Providence Woods homes for sale.

Ever wonder what your Providence Woods home is worth?

Click here to receive a free market evaluation.

Copyright 2011. Carol Fox. Allen Tate Realtors. *Providence Woods in Weddington NC—2010 Real Estate Market Update*

Posted: Sunday, June 19, 2011 10:33 AM by Carol Fox

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