Foxcroft Home Values Strengthen Without Short Sales
As part of our series of reports on Tallahassee neighborhoods, today’s analysis of home sales in Foxcroft includes real estate graphs showing both home prices and home value trends in Foxcroft, as well as a list of recent home sales in Foxcroft.
Average home prices in Foxcroft have fallen from a high of over $242,000 in 2006 to a low set last year of $165,900. This year, the average sales price of a home sold in Foxcroft is $184,700, which is about 24% lower than the average at the peak of the real estate market.
Foxcroft home values appear to be on the rise again. Last year, home values had dropped a whopping 36% since the peak of the market, but this year’s apparent recovery has reduced the depreciation total in Foxcroft to 24%.
In the real estate graph below, the vertical bars measure (left axis) the number of home sales each year, while the blue line shows the average home value in Foxcroft (measured in price per square foot on the right axis). Note the nice little spike in the value line below.
The reason for the spike can be seen in the vertical bars which measure the total number of home sales. Note last year that 40% of the homes sold were distressed properties (red section), while 60% were arms length sales. Thus far in 2011, none of the six sales recorded in the Tallahassee MLS were marked as distressed sales, thus the higher sales prices.
If you are considering selling a home in Foxcroft, you should be aware of the shadow inventory of homes that likely will become distressed sales in the future. They will have a significant impact on the future value of your home. Home values in Foxcroft are still on the decline, the graph above is merely a false positive report that we will continue to see in spots around Tallahassee that have cyclical distressed properties wash through the reports.
The good news is that arms length sales are selling for higher prices in Foxcroft than are the distressed properties, but the bad news is that distressed properties are not going away any time soon. If you read the recent Tallahassee Foreclosures Report, then you know that lis pendens filing are getting fired back up after the court-ordered shutdown was put to rest.
The advice to people who need to sell a home in Foxcroft is the same as anywhere else in Tallahassee. Either choose to own your home another 5 to 7 years (minimum), or sell it as fast as you can. The supply of homes in Tallahassee is still high, and demand is only at 53% of the level that we would expect to see if the housing market was not in a recovery phase. Choosing to wait a year or two will cost you money.
List of Recent Home Sales In Foxcroft
Neighborhood | Address | SP | Price/SQF | Closing Date | Year Built | SQF |
Foxcroft | 2942 FOXCROFT DR | $180,000 | $117 | 7/15/2011 | 1977 | 1,532 |
Foxcroft | 2925 Foxcroft Drive | $188,000 | $97 | 6/30/2011 | 1977 | 1,934 |
Foxcroft | 3002 Fenwick Court | $194,900 | $109 | 5/25/2011 | 1985 | 1,796 |
Foxcroft | 3029 Giles Place | $200,000 | $89 | 4/14/2011 | 1975 | 2,251 |
Foxcroft | 4497 Foxcroft Drive | $133,500 | $75 | 3/25/2011 | 1987 | 1,781 |
Foxcroft | 3104 Dowling Dr | $212,000 | $110 | 2/25/2011 | 1975 | 1,936 |
Foxcroft | 2978 Foxcroft Drive | $155,000 | $92 | 12/29/2010 | 1978 | 1,681 |
Foxcroft | 4841 Heathe Drive | $119,900 | $51 | 10/28/2010 | 1978 | 2,356 |
Foxcroft | 4621 Barclay Lane | $87,000 | $60 | 9/3/2010 | 1981 | 1,452 |
Foxcroft | 3144 Fenwick Court W. | $230,000 | $108 | 8/27/2010 | 1988 | 2,134 |
Foxcroft | 2965 Velda Dairy Road | $150,000 | $67 | 8/19/2010 | 1988 | 2,226 |
Foxcroft | 4913 Heathe Dr | $171,000 | $116 | 8/13/2010 | 1977 | 1,477 |
Foxcroft | 3037 Banks Road | $208,500 | $104 | 7/14/2010 | 1977 | 2,012 |
Foxcroft | 2928 Parrish Drive | $226,000 | $100 | 6/15/2010 | 1978 | 2,255 |
Foxcroft | 3033 Godfrey Place | $112,000 | $47 | 4/2/2010 | 1976 | 2,362 |
Foxcroft | 2908 Foxcroft Drive | $200,000 | $110 | 3/2/2010 | 1977 | 1,820 |
Foxcroft | 4483 Foxcroft Drive | $229,700 | $116 | 11/23/2009 | 1988 | 1,982 |
Foxcroft | 2941 Foxcroft Drive | $180,000 | $97 | 9/26/2009 | 1975 | 1,859 |
Foxcroft | 2945 Velda Dairy Road | $193,000 | $114 | 9/18/2009 | 1996 | 1,698 |
Foxcroft | 4815 Heathe Drive | $199,000 | $90 | 9/18/2009 | 1975 | 2,211 |
Foxcroft | 4912 Heathe Drive | $206,000 | $118 | 9/4/2009 | 1980 | 1,753 |
Foxcroft | 4515 Foxcroft Drive | $176,000 | $117 | 8/31/2009 | 1986 | 1,508 |
Foxcroft | 3129 Dowling Drive | $223,500 | $98 | 8/27/2009 | 1978 | 2,280 |
Foxcroft | 3148 Fenwick Court, W | $215,000 | $117 | 7/10/2009 | 1988 | 1,844 |
Foxcroft | 4588 Barclay Ln | $175,000 | $99 | 6/1/2009 | 1976 | 1,767 |
Foxcroft | 4491 Foxcroft Drive | $189,900 | $115 | 5/22/2009 | 1986 | 1,650 |
Foxcroft | 2999 Fenwick Court East | $200,000 | $98 | 4/3/2009 | 1988 | 2,044 |
Foxcroft | 2805 Heathe Ct | $233,000 | $124 | 12/19/2008 | 1977 | 1,879 |
Foxcroft | 2962 Foxcroft Drive | $269,500 | $120 | 11/25/2008 | 1978 | 2,250 |
Foxcroft | 3025 Banks Road | $210,000 | $130 | 9/30/2008 | 1977 | 1,620 |
Foxcroft | 2992 Fenwick Court East | $189,000 | $111 | 7/31/2008 | 1987 | 1,703 |
Foxcroft | 2995 Cranbrooke Dr | $259,900 | $123 | 6/18/2008 | 1986 | 2,113 |
Foxcroft | 3008 Giles Place | $208,000 | $99 | 5/28/2008 | 1977 | 2,110 |
Foxcroft | 3017 Giles Pl | $237,000 | $142 | 5/27/2008 | 1976 | 1,671 |
Foxcroft | 2736 Parsons Rest | $251,900 | $146 | 5/15/2008 | 1979 | 1,731 |
Foxcroft | 4803 Heathe Dr | $195,000 | $104 | 2/22/2008 | 1977 | 1,870 |
Foxcroft | 4846 Heathe Drive | $192,000 | $119 | 2/19/2008 | 2002 | 1,608 |
Foxcroft | 3045 Giles Place | $225,000 | $115 | 10/26/2007 | 1977 | 1,952 |
Foxcroft | 3049 Banks Rd. | $215,000 | $116 | 8/27/2007 | 1978 | 1,855 |
Foxcroft | 3009 Godfrey Place | $267,000 | $121 | 8/17/2007 | 1975 | 2,200 |
Foxcroft | 3017 Godfrey Place | $229,500 | $146 | 8/3/2007 | 1977 | 1,573 |
Foxcroft | 3005 Godfrey Pl | $224,900 | $127 | 8/2/2007 | 1977 | 1,769 |
Foxcroft | 3009 Giles Pl | $235,000 | $138 | 8/1/2007 | 1979 | 1,700 |
Foxcroft | 3024 Banks Rd | $255,000 | $143 | 7/26/2007 | 1975 | 1,780 |
Foxcroft | 2930 Foxcroft Drive | $220,000 | $121 | 7/19/2007 | 1975 | 1,821 |
Foxcroft | 2736 Parsons Rest | $225,000 | $130 | 7/12/2007 | 1979 | 1,731 |
Foxcroft | 3146 Fenwick | $217,000 | $149 | 6/25/2007 | 1987 | 1,458 |
Foxcroft | 2801 Heathe Court | $251,000 | $140 | 6/25/2007 | 1976 | 1,791 |
Foxcroft | 4519 Foxcroft Drive | $275,000 | $130 | 5/14/2007 | 1988 | 2,122 |
Foxcroft | 3037 Giles Pl. | $216,000 | $128 | 5/4/2007 | 1977 | 1,683 |
Foxcroft | 3032 Godfrey Place | $210,000 | $127 | 12/11/2006 | 1978 | 1,652 |
Foxcroft | 2995 Foxcroft Drive | $246,500 | $114 | 11/30/2006 | 1988 | 2,164 |
Foxcroft | 2720 Parsons Rest | $255,000 | $151 | 10/24/2006 | 1985 | 1,685 |
Foxcroft | 4660 Ramsgate Drive | $268,000 | $121 | 9/22/2006 | 1987 | 2,217 |
Foxcroft | 4815 Heathe Drive | $317,500 | $140 | 7/24/2006 | 1975 | 2,261 |
Foxcroft | 2966 Foxcroft Drive | $213,900 | $126 | 5/30/2006 | 1977 | 1,694 |
Foxcroft | 3025 Banks Road | $208,000 | $128 | 5/26/2006 | 1977 | 1,620 |
Foxcroft | 2996 Foxcroft | $258,000 | $116 | 5/15/2006 | 1989 | 2,225 |
Foxcroft | 4517 Foxcroft Dr | $250,000 | $136 | 4/27/2006 | 1986 | 1,843 |
Foxcroft | 2957 Velda Dairy Road | $215,000 | $140 | 4/21/2006 | 1989 | 1,535 |
Foxcroft | 4846 Heathe Drive | $227,000 | $143 | 3/10/2006 | 2002 | 1,592 |
Foxcroft | 3045 Giles Pl | $240,000 | $116 | 2/22/2006 | 1977 | 2,076 |
Foxcroft | 4819 Heathe Drive | $246,000 | $127 | 12/16/2005 | 1977 | 1,939 |
Foxcroft | 4501 Foxcroft | $270,000 | $139 | 12/16/2005 | 1989 | 1,941 |
Foxcroft | 2973 Foxcroft Drive | $210,000 | $140 | 9/7/2005 | 1984 | 1,500 |
Foxcroft | 4808 Heathe | $222,500 | $110 | 8/29/2005 | 1976 | 2,030 |
Foxcroft | 3008 Giles | $244,000 | $116 | 8/25/2005 | 1977 | 2,110 |
Foxcroft | 2997 Cranbrooke Drive | $211,500 | $119 | 7/13/2005 | 1985 | 1,780 |
Foxcroft | 4621 Barclay Lane | $155,000 | $107 | 7/1/2005 | 1981 | 1,452 |
Foxcroft | 3001 Fenwick Ct E | $236,000 | $107 | 6/30/2005 | 1988 | 2,199 |
Foxcroft | 4838 Heathe Drive | $201,000 | $117 | 5/31/2005 | 1986 | 1,715 |
Foxcroft | 4605 Barclay Lane | $246,000 | $119 | 5/20/2005 | 1981 | 2,069 |
Foxcroft | 2801 Heathe Court | $229,900 | $135 | 5/2/2005 | 1976 | 1,700 |
Foxcroft | 4808 Heathe Drive | $170,000 | $101 | 4/15/2005 | 1976 | 1,685 |
Foxcroft | 4908 Heathe Drive | $228,000 | $112 | 4/15/2005 | 1986 | 2,035 |
Foxcroft | 4483 Foxcroft Drive | $234,500 | $118 | 3/28/2005 | 1988 | 1,982 |
Foxcroft | 3115 Dowling Drive | $195,000 | $108 | 3/21/2005 | 1980 | 1,800 |
Foxcroft | 4800 Heathe Dr | $200,000 | $111 | 3/17/2005 | 1978 | 1,798 |
Foxcroft | 3037 Giles Place | $181,900 | $106 | 1/3/2005 | 1977 | 1,720 |
Foxcroft | 2992 Fenwick Ct East | $183,900 | $103 | 12/17/2004 | 1987 | 1,789 |
Foxcroft | 3046 Banks | $177,000 | $95 | 10/8/2004 | 1978 | 1,860 |
Foxcroft | 2724 Parsons Rest | $165,000 | $109 | 9/24/2004 | 1983 | 1,515 |
Foxcroft | 3013 Giles Place | $174,000 | $81 | 9/23/2004 | 1977 | 2,158 |
Foxcroft | 3029 Godfrey Place | $185,900 | $115 | 8/20/2004 | 1977 | 1,616 |
Foxcroft | 4496 Foxcroft Drive | $209,900 | $100 | 8/6/2004 | 1989 | 2,102 |
Foxcroft | 2961 Foxcroft Drive | $200,000 | $90 | 7/30/2004 | 1975 | 2,228 |
Foxcroft | 2993 Fenwick Court East | $185,500 | $109 | 7/16/2004 | 1986 | 1,705 |
Foxcroft | 4600 Ramsgate Dr | $265,000 | $91 | 7/7/2004 | 1988 | 2,925 |
Foxcroft | 3113 Dowling | $153,000 | $99 | 5/28/2004 | 1976 | 1,539 |
Foxcroft | 2728 Parsons Rest | $165,000 | $107 | 5/21/2004 | 1979 | 1,542 |
Foxcroft | 3032 Godfrey Place | $165,200 | $100 | 5/3/2004 | 1978 | 1,652 |
Foxcroft | 3149Â W Fenwick Court | $191,900 | $93 | 4/30/2004 | 1985 | 2,069 |
Foxcroft | 2982 Foxcroft Drive | $185,000 | $68 | 2/26/2004 | 1976 | 2,712 |
Foxcroft | 3112 Dowling Drive | $169,900 | $91 | 12/4/2003 | 1975 | 1,865 |
Foxcroft | 4628 Ramsgate Drive | $162,000 | $90 | 11/3/2003 | 1986 | 1,793 |
Foxcroft | 2995 Cranbrooke Drive | $178,000 | $86 | 9/15/2003 | 1986 | 2,064 |
Foxcroft | 2805 Heathe Ct. | $186,000 | $98 | 8/29/2003 | 1977 | 1,890 |
Foxcroft | 2935 Parrish Drive | $168,000 | $84 | 7/29/2003 | 1975 | 2,005 |
Foxcroft | 4819 Heathe Dr. | $174,147 | $90 | 6/30/2003 | 1977 | 1,939 |
Foxcroft | 2929 Foxcroft Drive | $160,000 | $91 | 6/27/2003 | 1975 | 1,760 |
Foxcroft | 2940 Parrish Dr | $170,000 | $86 | 6/20/2003 | 1977 | 1,984 |
Foxcroft | 2917 Foxcroft | $161,000 | $80 | 5/16/2003 | 1976 | 2,022 |
Foxcroft | 3037 Banks Dr. | $169,900 | $84 | 5/5/2003 | 1977 | 2,012 |
Foxcroft | 3041 Banks Road | $138,000 | $86 | 2/25/2003 | 1975 | 1,606 |
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