Data Compiled from the PRAR 5/1/2010 - 5/31/2010
One word to describe the sales in Baxter Village when compared to the rest of the Charlotte real estate market: defiance. While many other communities in the Charlotte area have lost substantial value and experienced a slump in sales, Baxter Village has yet to experience those issues. While the numbers for May are still heavily influenced by the ending of the First Time Home Buyer Tax Credit (which required a contract by the end of April 2010 and a closing before June 30), the sales and pending sales are no less a bright spot for our market.
In May, nine new homes were added to the inventory of available residential properties for sale in Baxter Village which now stands at 54. May 2009, 11 were added and only five sold. This May, five homes closed:
- 126 Blandina Ct: $259,900
- 1748 Catherine Lothie Way: $338,000
- 5312 Maddox Ct: $355,000
- 643 Bracket St: $415,000
- 4342 Birkshire Heights: $450,975
Unlike other neighborhoods in the Charlotte area and Fort Mill, none of the sales were bank owned (foreclosures) or short sale (pre-foreclosures), Rather, only 4342 Birkshire Heights was a builder sale and the remaining were equity sellers. Currently, Baxter Village only has two homes for sale listed as a short sale and none that are bank-owned.
Currently, 9 homes are pending a closing, 3 of which are Saussy Burbank new construction homes and one other is being constructed by Miller Classic.
While the stats for Baxter Village are promising, one cannot overlook that for equity sellers, they are still competing against a number of builders and their vacant lots. Therefore, pricing in line with what the builders are offering is absolutely critical to a successful sale.
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