Cedar Pointe, Edmond OK Quarterly Report, 4Q 2007

As an active REALTOR® in Edmond, Cedar Pointe is one of the neighborhoods I watch closely; partly because I sell a good number of Cedar Pointe homes, and partly because I live in the neighborhood myself.  It's a great family community, located on the East Side of Santa Fe, between Danforth and Covell, with a presence that many can't resist.  Nearby neighborhoods include Pebble Creek to the South, Cheyenne Crossing to the North, and Homestead to the West.

Cedar Pointe offers all the things that most families want in a neighborhood; a great location, convenient to lots of shopping, restaurants and parks, a wonderful community pool, park, ponds, walking trails, and great schools.

One of the great things about Cedar Pointe is that these are not cookie-cutter homes.  You'll find a lot of character and individuality in Cedar Pointe.  In addition, the kids here get the benefit of the award-winning Edmond Public Schools system; specifically John Ross Elementary, Cheyenne Middle School, and Edmond North High School.

Developers and builders began construction in Cedar Pointein 1997, and the neighborhood is now completely built-out, with only one remaining new-construction home on the market.  The homes range in size from about 1,500 square feet up to about 2,400 square feet, and the values are currently between about $140,000 & $225,000.

The following chart shows statistics of homes sold specifically in the Cedar Pointe addition, from January 1st to December 31st, 2007 and compares these numbers with their respective numbers from 2006.

As you can see, the Cedar Pointe comparison from 2006 to 2007 shows strong, promising signs.  2007 brought an increase in overall homes sales, sales prices, and prices per square foot.  The only negative one could perceive is the increase in the number of days it took for the homes to sell.  However, the increase in DOM was common in our overall marketplace in 2007 (nothing unique for Cedar Pointe).

With an absorption rate of about 6 months, the inventory level for Cedar Pointe is healthy, and I would predict that there will be an increasing number of homes coming on the market over the next few weeks, as we head into spring.  Subscribe to our blog to keep up-to-date on homes in the neighborhood.

With such a wide range of variables to consider when pricing a home in Cedar Pointe, it can be tricky, so if you're curious what your home would sell for or would like a chart more specific to your street, please contact us directly and we'll be happy to provide one for you, with no obligation of any kind. You can also visit our website, where you'll find Cedar Pointe information, as well as details on many other great Edmond neighborhoods.

**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (1/1/06) through (12/31/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy