Providence Downs South in Marvin NC Real Estate Market Report—2011 Year-to-Date Review
Providence Down South is a luxury gated community located in the MarvinNC area. Exquisitely appointed homes on generous lots line the neighborhood streets. A clubhouse and amenity center are available to Providence Downs South residents.
Providence Downs South Real Estate Market Comparison
A detailed comparison of the 2011 year-to-date real estate market in Providence Downs South can be found in the tables below. What can Providence Downs South buyers and sellers learn from these statistics?
- The real estate market improved for sellers in 2011. The median closed priced increased 7.3% in 2011 while the median home square footage decreased 8.7%. Days on market declined 38.9% and the median list to sale ratio improved to 95%.
- Despite the improving market in 2011, buyers were able to find bargains in the neighborhood. Foreclosures and short sales accounted for just under 50% of 2011 sales.
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% |
| YTD 2011 | $805,000 | 6300 | 80 | 95% |
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 | 9 | 47.3% |
| New Construction | 1 | 5.2% |
| Foreclosure | 6 | 31.5% |
| Short Sale | 3 | 16% |
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
Providence Downs South Homes for Sale
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Copyright 2011. Carol Fox. Allen Tate Realtors. *Providence Downs South in Marvin NC Real Estate Market Report—2011 Year-to-Date Review*
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A very popular neighborhood with great schools, Hunter Oaks is conveniently located near upscale shopping in South Charlotte and an interchange with I-485.
The third quarter median sales price of $546,900 remained below the first quarter and 2010 median prices. Nineteen homes sold in the third quarter increasing 46% over the second quarter. Median days on market dropped to 58 days.
Because of its low density development, Marvin doesn’t have very many home sales. During the second quarter of 2011, there were thirteen home sales. Although the median square footage of home sold in Marvin remained nearly the same as the first quarter of 2011, the median price dropped 11.2% in the second quarter. Median days on market increased nearly five-fold.
Because of its low density development, Marvin doesn’t have very many home sales. During the first quarter of 2011, there were eight home sales. The median price increased 2.7% over 2010 and roughly the same over 2009. Median days on market dropped 49.1% in the first quarter.
