Providence Downs South in Marvin NC--2010 Real Estate Market Update

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Real Estate Agent with Allen Tate Company 704-905-3935 105804

Providence Downs South in Marvin NC—2010 Real Estate Market Update

Providence Downs South is gated community of luxury custom-built homes in the Marvin NC area.Providence Downs South in Marvin NC  Homes in Providence Downs South have European styling with beautiful exteriors of brick, stone and stucco.  The neighborhood’s upscale homes are set on half acre to one acre lots.  A resort-style amenity center serves residents.  Shopping and restaurants are conveniently located nearby at Blakeney along Rea Road and at Ballantyne Village.

How did the 2010 real estate market in Providence Downs South compare with the 2009 market in the neighborhood?  The table below shows median values for several characteristics of the marketplace.  The number of homes sold increased 26% in 2010 with 29 sales.  Median prices increased 7.1% while the median square footage increased by 10.9%.  Median days on market tripled while the list-to-sale ratio increased slightly.

Providence Downs South Real Estate Market Comparison

Single Family Homes

Providence Downs South Market Update Median Closed Price Median Home Square Footage Median Days on Market Median List to Sale Ratio
Year 2009 $700,000 6226 45 88%
Year 2010 $750,000 6905 131 90%

Source:  Carolina Multiple Listing Service

Providence Downs South Types of Closed Sales

Foreclosures and short sales accounted for over half the sales in Providence Downs South during 2010.  There were no new construction sales in the neighborhood although lots for construction remain.

Providence Downs South Sales Types Number of Closed Sales Percentage of Closed Sales
Resale 12 41.3%
New Construction n/a n/a
Foreclosure 13 44.8%
Short Sale 4 13.9%

Source:  Carolina Multiple Listing Service 

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

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Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Providence Downs South in Marvin NC—2010 Real Estate Market Update*

 

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