PEPPER PIKE HOME STATISTICS
Here is an unofficial list of all home sales during the third quarter of 2009 in Pepper Pike, Ohio. A summary with a state of the market will follow.
| 28099 Fairmount Blvd | $140,000 |
| 2467 Windy Hill Dr | $150,000 |
| 2461 Windy Hill Dr | $160,000 |
| 3013 Brainard Rd | $165,000 |
| 31999 Pinetree Rd | $188,000 |
| 2891 Alvord Place | $189,000 |
| 28888 Shaker Blvd | $225,000 |
| 3085 Lander | $235,000 |
| 29349 Bryce Rd | $250,000 |
| 28575 Settlers Ln | $299,900 |
| 2907 Alvord Place | $300,000 |
| 29499 Gates Mills Blvd | $330,000 |
| 30575 Brookwood Dr | $336,000 |
| 30900 Gates Mills Blvd | $357,500 |
| 16 Pepper Ridge Rd | $480,000 |
| 31159 Shaker Blvd | $500,000 |
| 5100 Muirfield Dr | $515,000 |
| 5 Laurel Hill Ln | $560,000 |
| 31339 Shaker Blvd | $615,000 |
| 33349 Fairmount | $675,000 |
SUMMARY
Third quarter sales of Pepper Pike real estate here in 2009 are similar to those of 2008. In the third quarter of 2009, we have had 20 home sales at an average sales price of $333,520. Last year we had 17 homes sell during the third quarter at an average price of $399,232.
Year to date figures in terms of number of sales are similar as well. So far this year there have been 52 homes sell at an average price of $373,403. During the same time period in 2008, there were 54 sales at an average price of $459,337.
While these Pepper Pike home statistics indicate similar buyer activity to last year in terms of number of sales, the average home price is significantly lower this year compared to 2008. The main reason is that there have been more sales of bank owned homes in Pepper Pike and other distressed sales in the under $250,000 range. In addition, there have been less home sales in the luxury home range, that being over $500,000. Last year through three quarters, we had a total of 7 home sales of $250,000 or less. This year so far, we have had 17 home sales of $250,000 or less. In addition, there have been only 3 sales this year over $750,000 where last year through three quarters we had 7.
Pepper Pike real estate is still regarded as highly desirable. Thanks to the excellent rated Orange School District, great location, and picturesque wooded lots not found in many other area suburbs, homes in Pepper Pike are still sought out by local buyers and those relocating to Cleveland as well.
As the Pepper Pike home statistics indicate, there are more lower end homes selling, bringing about a great opportunity for first-time buyers and bargain hunters. Overall, homes are still selling, although homes that are updated and priced well will sell quicker than those that are not. The sales of higher-end homes, especially those over $750,000, probably will not pick up until the economy shows more signs of improvement, thus keeping the average sales price lower than we have seen in recent years.
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About The Authors:
This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty.The Schumans are experts in the Cleveland Ohio real estate market and specialize in luxury homes, home staging, and working with buyers relocating to Cleveland.
If you are looking to buy or sell a home in Pepper Pike or the surrounding Eastern suburbs, please contact the Schuman Team at 216-346-3235.
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Pepper Pike Home Statistics is is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Oct,2009
