Coffee Creek, Edmond OK Quarterly Report, 4Q 2007

Coffee Creek is one of North Edmond's premier sought-after golf-course communities. Located in the square mile between Covell & Coffee Creek, and Kelly & Broadway, it's a large master-planned community, with several sub-additions, such as Stonebrooke, Prairie Village, The Links, Carriage Park, The Villas, Ash Grove, and Heritage Green, all varying in size and amenities.

Coffee Creek offers all the things that most families want in a neighborhood. You'll find community pools, parks, ponds, walking trails, a renowned golf course, and connection directly to Mitch Park. Folks in all stages of life live in Coffee Creek, from young executives to retirees, and everyone in between. In addition, the kids in Coffee Creek attend some of the best schools in the state (John Ross Elementary, Cheyenne Middle School, Edmond North High School).

Developers and quality builders began building Coffee Creek in 1997 and it really caught on in 2000, when it experienced a huge growth surge. There are still a few homes being built, although the neighborhood is almost 100% complete. They're just now about to finish it out. The homes range in size from 1,500 square feet up to about 5,500 square feet, and the values are currently between about $170,000 & $510,000.

This chart shows statistics of homes sold specifically in the Coffee Creek addition, from October 1st to December 31st, 2007 and compares these numbers with their respective numbers from 2006.

As you can see, the Coffee Creek comparison from 2006 to 2007 looks a little bit iffy at first glance, but take a couple of things into consideration as you evaluate these numbers. First, many of the homes that are currently selling in Coffee Creek are the last of those being built, which are primarily on the smaller and lower-priced end of the spectrum for the neighborhood, which brings down the averages for now. Also, as is usually the case as a neighborhood approaches build-out, volume has dropped tremendously. These drops are not necessarily something to be alarmed by in the short-term, and it should only take a few more months for the values to begin positive appreciation again, once the last of the new homes are sold. Subscribe to our blog to keep up-to-date on this progress.

With an absorption rate of 8 months, the inventory level for Coffee Creek is little bit higher than I'd like to see, but I predict we should begin to see some of that inventory sell off in the next 6 to 8 weeks, now that the Holidays have passed and people are beginning to re-focus their efforts on home shopping.

With such a wide range of home sizes in Coffee Creek, it can be difficult to figure an accurate pricing analysis, so if you're curious what your home would sell for or would like a chart more specific to your street in Coffee Creek, 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 Coffee Creek 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 (10/30/06) through (12/31/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy