Fenwick, Edmond OK Quarterly Report, 4Q 2007

By
Real Estate Agent with ShowMeOKC Team of Paradigm AdvantEdge

Fenwick is one of West Edmond's premier sought-after family communities.  Located on the North side of NW 164th, between Penn & Western, it's a large community, with several sub-additions.  You'll find the original gated area to the East section, a Garden Village to the SW, and varying sized homes throughout.  Fenwick, Edmond, OklahomaNearby neighborhoods include Copper Creek to the North, and Sonoma Lake to the South.

Fenwick offers all the things that most families want in a neighborhood; a great location, convenient to lots of shopping, restaurants and parks, and you'll love the community pools, parks, ponds, walking trails, and great schools

Folks in all stages of life live in Fenwick, from young executives to retirees, and everyone in between.  In addition, the kids in Coffee Creek attend the award-winning Edmond Public Schools system; specifically Angie Debo Elementary, Summit Middle School, and Edmond Santa Fe High School.

Developers and quality builders began building Fenwick in 1997 and it's still being developed 10 years later.  It's a large area and is nearing completion.  The homes range in size from about 2,000 square feet up to about 4,200 square feet, and the values are currently between about $195,000 & $365,000.  If you'd like to review Fenwick's by-laws, feel free to visit the HOA's website.

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

Fenwick Edmond Statistics 4th Quarter 2007

As you can see, the Fenwick comparison from 2006 to 2007 looks a little bit iffy at first glance, but consider this as you evaluate these numbers: Many of the homes that are currently selling in Fenwick 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.  These drops are not necessarily something to be alarmed by in the long-term, and we will most likely see 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 about 8 months, the inventory level for Fenwick 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 Fenwick, 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 Fenwick, 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 Fenwick 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

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