Foxcroft, a luxury community nestled in SouthPark with gorgeous landscaping, stately homes, and larger lots – saw lower closed sales in the first 4 months of 2018 than 2017 (6 closed sales vs. 10); however, pending contracts jumped 29% from 17 in 2017 to 22 in 2018.
Foxcroft’s price point ranges $700,000 to over $3 million and experienced a 14% jump in Median Sold Price per Square foot, from $288 to $327.
Foxcroft Sellers maintained an enviable position in the market – with the Supply of Homes dropping 17% from 4.6 months to 3.8 months. This represents a strong Seller’s Market, unlike many luxury communities around Charlotte where the supply is well over 15 months and it clearly a Buyer’s Market. Further, showing activity increased 10% compared to 2017, indicating a continued high demand/low supply environment.
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