Providence Plantation NC Real Estate Market – September 2012

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At the end of the 3rd quarter of 2012, the Providence Plantation NC real estate market has gone from a buyers market to a sellers market.  Just a year ago, Providence Plantation neighborhood in South Charlotte NC was a buyers market, with an absorption rate of 7.5 months.  Now, at the end of September 2012, the absorption rate is a robust 5.32 months, meaning this popular neighborhood is now in a sellers market.

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Providence Plantation NC Real Estate Market – Just What is “Absorption Rate?”

Absorption rate is an important real estate term that describes housing inventory.  The absorption rate tells us how many months it would take to sell off all of the existing inventory (homes currently for sale) at the current rate of sales, and assuming no new homes come on the market.  Providence Plantation’s current absorption rate of 5.32 months means that at the current rate of home sales in the neighborhood, it would take just over 5 months to sell all of the homes on the market.  A balanced real estate market between buyers and sellers is 6 months. An absorption rate over 6 months means it’s a buyers market, and an absorption rate under 6 months is considered a sellers market.

Providence Plantation NC Real Estate Market Absorption Rate

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Why is the Absorption Rate Important?

For buyers, it is important to know the market absorption rate of a given area (neighborhood, school zone, zip code, or city) because if it is a buyers market, the buyer has more negotiating power because there’s more inventory available.  Sellers are competing for buyers and offers, which drives housing prices lower.

For sellers, the absorption rate reveals how long, on average, it will take to sell their home.  In a sellers market, there is less inventory, so buyers have less to choose from.  Homes that are in great condition can expect to get LOTS of activity, and possibly even multiple offers and a bidding war.  I have seen lots of multiple offers in South Charlotte since the spring – the real estate market in South Charlotte is definitely on the upswing!

Providence Plantation NC Real Estate Market Expert

If you are looking to buy or sell a home in Providence Plantation, I would be happy to meet with you to discuss your plans.  I have lived in Providence Plantation since 1998, and I’m proud to call this great neighborhood home!  I’ve listed and sold lots of homes in Providence Plantation, and I have a very successful marketing plan to get homes SOLD!  If you’ve read this blog post this far, you’re interested in Providence Plantation!  Let me show you around!

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Providence Plantation is one of South Charlotte’s most popular neighborhoods because of its beautiful homes, large lots, top-ranked public schools, and fantastic and friendly lifestyle!    This neighborhood is zoned for Providence Spring Elementary School, Crestdale Middle School, and Providence High School.   Residents enjoy a great location close to shopping, restaurants and sports and recreation activities, especially our own Providence Plantation Racquet and Swim Club.  So call today and let’s see how I can help YOU!

South Charlotte Real Estate Expert

South Charlotte NC is definitely a popular destination for people moving into the area.  You’ll find beautiful neighborhoods like Providence Plantation, and a thriving shopping, dining and recreation scene.  Some of Charlotte’s best public schools are located in South Charlotte!

I’m a South Charlotte Realtor® – I have lived in Providence Plantation since 1998, and it would be my pleasure to show you around Providence Plantation or other South Charlotte neighborhoods..  If you are thinking about selling your South Charlotte homeI would love to share my 21-point marketing plan that combines new technology with good old hard work!  If you’re looking to buy a home in South Charlotteplease contact me so we can talk about finding the best home and neighborhood for YOU!

Come have a chat with me at our brand new Savvy + Co. Real Estate office in the heart of Ballantyne Village.  You’ll soon find out why Savvy just “gets it!”  We combine smart real estate with nice people, and what you get is an AWESOME real estate experience!  I look forward to hearing from you!

Melissa Brown, Broker/Realtor®
704-654-9700 (cell)
Melissa@MelissaBrownHomes.com
Savvy + Co. Real Estate
14825 Ballantyne Village Way, Suite 165
Charlotte, NC  28277

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