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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 Prices

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.

Foxcroft Home Values

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 3149  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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Joe Manausa Real Estate
2066 Thomasville Rd
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