Being a highly sought-after neighborhood, we always see good activity here in Cedar Pointe, and October was no exception. As of this morning, we have 11 active and 6 pending listings. The average list price of the active listings is $200,008, or $96.72 per square foot.
One Cedar Pointe home closed in October, at 2021 Fair Meadow Lane. It sold (88 days on the market) for $164,900, which equals anywhere from $87.71 to $92.02 per square foot, depending on which square-footage source you trust (county courthouse or appraisal).
Being so active in the community allows me a lot of knowledge of the area. I was the listing agent on the one home that closed, and currently have two others listed in the neighborhood; One which is pending and will be closing this month, and the other which is fresh on the market (28 days). Here are some statistics for anyone who's interested:
| | 2006-07 | 2005-06 | Change |
| Number of sales | 23 | 27 | -14.81% |
| Largest home sold (sf) | 2376 | 2276 | |
| Average home sold (sf) | 1967 | 1910 | |
| Smallest home sold (sf) | 1572 | 1579 | |
| Highest sales price | $225,000 | $210,000 | 7.14% |
| Average sales price | $179,524 | $173,272 | 3.61% |
| Lowest sales price | $140,500 | $142,500 | -1.40% |
| Average list price | $182,926 | $176,735 | 3.50% |
| Sales price vs list price | 98.14% | 98.04% | 0.10% |
| Highest price per sf | $102.69 | $100.65 | 2.03% |
| Average price per sf | $91.39 | $91.03 | 0.40% |
| Lowest price per sf | $76.07 | $65.97 | 15.31% |
| Longest DOM | 209 | 190 | 10.00% |
| Average DOM | 71 | 54 | 31.48% |
| Shortest DOM | 0 | 6 | |
| | | | |
| Current Active Listings | 17 | |
| Current Absorption Rate | 8.87 | | |
As you can see, the number of overall sales in the neighborhood has dropped, and it is taking longer for the homes to sell, which is typical of our current market. However, overall sales prices and prices per square foot have still increased at a respectable rate, regardless of the perception of a down market in Edmond real estate. Our absorption rate is a little higher than I'd like to see right now, but the homes are selling below the metro average days on the market, so that doesn't really alarm me.
If you have any questions, if you're curious what your home would sell for in Cedar Pointe, or if you're looking to buy, feel free to call or email me. Since I'm handling about 29% of the current market activity in our neighborhood, you can feel comfortable knowing that I'll provide you with real numbers that will get real results.
**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (10/07/05) through (10/07/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy
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