Cheyenne Crossing, Edmond OK Quarterly Report, 4Q 2007

Cheyenne Crossing is one of Northwest Edmond's highly sought-after neighborhoods.  Just mention the name and most people know where it is... it's that beautiful community on the South side of Covell, between Santa Fe and Kelly, with the fountain pond out front.  It's a great family community with a presence that many find very appealing, with Mitch Park directly across the street and nearby neighborhoods such as Covell Village to the East, and Cedar Pointe to the South.

Cheyenne Crossing offers all the things that most families want in a neighborhood; a great location, convenient to lots of shopping and restaurants, a wonderful community pool, a pond, walking trails, and great schools.

Immediate, convenient access to Edmond's Mitch Park, provides all the recreation space you could need, complete with the Mathis Brothers Skate Park, plus 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 high-quality builders began construction in Cheyenne Crossing in 2002, and the neighborhood is almost complete.  There is one lot remaining to be built on, and just a handful of new-constructions homes up for sale now.  The homes range in size from about 2,000 square feet up to about 3,700 square feet, and the values are currently between about $215,000 & $349,000.

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

As you can see, the Cheyenne Crossing comparison from 2006 to 2007 is pretty equal.  The overall sales volume was down for 2007, simply due to the majority of the homes being completed and sold in 2006.  The sales prices, and prices per square foot in 2007 stayed level or dropped slightly, as is normal as a community approaches build-out.

With an absorption rate of about 4 months, the inventory level for Cheyenne Crossing is very 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 Cheyenne Crossing, 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 Cheyenne Crossing 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