Lake Providence by Del Webb 2014 Market Report
The numbers are in and the market continues to be strong in the Lake Providence neighborhood.
There were 161 home sales in 2013 and 184 in 2014. That's up over 14%. A very strong showing since Pulte has almost finished building out the community.
In 2013 the Average Sales Price for a home was $290,883. The average price/square foot of those homes at $149 . In 2014 the Average Sales Price increased to $343,753 with the price/square foot increasing to $164.
The Average Sales Price increased 18%, but the sales price/square foot only increased 10%. This indicates that as the prices increased, so did the size of many of the new homes.
Lake Providence was started in 2007 in Mount Juliet Tennessee. Just 8 years later the neighborhood is almost complete with over 1000 homes.
In 2012, 2 homes sold over $400,000. This number increased to 9 in 2013 and 37 in 2014.
Lake Providence by Del Webb has consistently dominated with new home sales. As the homeowners have been there longer, the number of resales has begun to increase.