I have selected certain values in a raster (roughly 1000 cells), and would like to export them to be able to create a polygon. Converting it to points first then to polygons does not work. Can anyone suggest a better method?
If you use the set null tool in the spatial analyst toolbox to assign a null value to any raster cell not in your selection you will be able to perform a raster to polygon conversion on the result.
This should give you the polygon(s) you need.