WOW, Royal Court is sold out! All 107 developer owned condominiums have successfully closed. Royal Court is a luxury building off of Morehead street, positioned between historic Dilworth and Center City Charlotte. The building’s amenities include a two story illuminated waterfall, mahogany lobby walls fitted with fossils from Wyoming’s Green River Valley, first class concierge services, a residents retreat with both workout area and entertaining kitchen/ media lounge, and a third floor pool deck featuring mineral pool, hot tub, two-sided fireplace, six burner Viking grill, music, and a bar.
Originally, closings were slated for the second half of 2009 (good timing right?), Royal Court weathered all the storms, not only surviving the troubled real estate market since the 2008 collapse, but has sold exceptionally well, performing at or above its peer group in intercity Charlotte. In fact over the last 17 months, only The 386 unit Avenue has sold more than Royal Court:
The Avenue 72
Royal Court 41
Rosewood 27
Piedmont Row 22
Metropolitan 21
The Arlington 19
The Madison 10
Like the building, the sales group, Scot Williams, Brandon Ruby, and Kevin Thompson managed to survive from beginning of Royal Court’s development to the completion of sales. Hey when you are good………Scot Williams Realty, LLC. was a large part of that success. Scot Williams was directly responsible for 49.49% of the gross listing commissions earned over the life of the project, selling 47 of the 107 condominiums.”I knew the building as well, or better than anybody. Once the construction group moved on, and ownership changed, our group was the expert. We felt that Royal Court was the premier property in the area, and our sales success reflected that belief!” If you are looking for a great property there are re-sales in the building, but like all inventory in this market it moves fast. Come take a look.
A quick Market Update:
Listings are up 8.3% for the three months ending 5/25 vs one year ago
Pending sales are up 41.8% for the three months ending 5/25
Inventory is down (25.6) for the three months ending 5/25, and 38.2% for the twelve months ending in April. In Myers Park and Eastover that is translating into a 3 months supply- (less than 4 months is a Sellers market)
Sales prices have improved about 5% over the last 12 months
List prices to closing prices thru April were back to 93.6%
June 1 2013
