There are a handful of old Charlotte neighborhoods that elicit oohs and aahs as you drive through and see the well-manicured lawns, mature trees and grand houses with slate roofs, copper gutters and the finishing touches that just bring houses up a notch.
Foxcroft is one of those neighborhoods. It is tucked away between Sharon and Providence roads to the east of SouthPark Mall and surrounded by some of the other great Charlotte neighborhoods like Myers Park, Cotswold and Barclay Downs.
Though it is just 15 minutes from Uptown and 5 minutes from SouthPark Mall and Phillips Place, you would never know you’re in the center of one of the busiest retail areas in Charlotte. The neighborhood’s streets are peaceful and quiet. There is a reason Foxcroft is one of the most desirable and priciest Charlotte neighborhoods.
This 2008-built Foxcroft home sold in 2015 for $2.175 million or $360 per square foot.
Foxcroft was developed in the 1940s on land that was once a dairy farm. Since then many of the homes in Foxcroft have undergone some major renovations or have been torn down with newer homes in their place.
The stately homes are on large lots and range from traditional 2-story homes to sprawling ranches and quirky modern designs from the 1970s. It is not uncommon to have homes more than 6,000 square feet in Foxcroft. Though there are some in the mid-2,000-square-foot range, those are the exception. Many of the homes are much larger.
Always a desirable neighborhood, Foxcroft demands a certain discriminating buyer. Even the smaller homes do not come cheaply, as the neighborhood garners some of the highest per-square-foot prices in the city.
Currently, there are 12 homes for sale in Foxcroft, 3 of which are under contract as of March 15.
The highest list price is $2.15 million for a nearly 6,700-square-foot traditional home. The lowest list price is $875,000 for a 2,600-square-foot brick ranch.
Nearly 2 homes sold per month during the last year for an average sales price of almost $1.3 million and $280 per square foot. The 23 homes that sold during the last year averaged 95.5% of list price.
Given the per-month sales average for the last 12 months, Foxcroft has about 6 months of inventory on the market as of March 15. Generally, more than 6 months of inventory suggests a buyer’s market, however, not at Foxcroft’s price point. The market for these homes is select and few when compared to the general buying population.
In addition to being located near the best shopping and dining, the neighborhood is also zoned for some of Charlotte’s best schools – Sharon Elementary School, Alexander Graham Middle School and Myers Park High School.