Lake Providence by Del Web 1st Quarter 2013 Market Report
Home Sales at Lake Providence by Del Webb in Mount Juliet stayed remarkably strong during our recent downturn in the Real Estate Market. Sales are only getting stronger!
Where first quarter sales got off to a slow start in much of Middle Tennessee, nothing could be further from the truth in Lake Providence.
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The Chart Summary shows prices up 16%. The Average Sales price is up but the size of the homes has also increased. The average square footage of a Home Sold in Lake Providence increased from 1673 to 1816 square feet.
The Price/Square Foot also increased from $134/sqft to $143/sqft. That's still a 7% increase over 2013.
The Re-Sale market has also picked up. The numbers are very small compared to the new home sales.
There are currently 56 homes Pending, of which 3 are re-sales. The multiple Listing service shows 17 Active Listings, of which 15 are Re-Sales.
The reason there are so many re-sales in the active listings is that Del Webb doesn't keep a lot of Inventory homes. Most new home sales are built from the ground up.
Of the 17 Homes for Sale in Lake Providence, 9 already have some sort of contingency.
That leaves 8 homes to choose from.
For Buyers looking to buy now, that's not a lot of choice!
The re-sale market in Lake Providence by Del Webb is an important indication of people moving in and out of the neighborhood. There are currently 868 existing homeowners. With 8 homes selling in a 3 month period, or say 32/year, that's less than 4% turnover.
Over the years we have found that most homeowners are happy with the neighborhood and the amenities available. There are over 400 clubs giving an incredible amount of variety of activities in the community.
Shopping is just minutes away and Nashville just a little further.