Pepper Pike Real Estate - Home Value Report 3rd Quarter 2010
Before we discuss the direction of home values here in Pepper Pike, we will first give a list of all homes that sold during the 3rd quarter of 2010. We will also include a comparison to the same time period in 2009.
| 27399 N Woodland Rd |
$115,000 |
| 2438 Windy Hill Dr |
$157,000 |
| 32399 Pinetree Rd |
$210,000 |
| 29099 Fairmount Blvd |
$265,000 |
| 3038 Forest |
$298,000 |
| 2840 Lander Rd |
$330,000 |
| 3497 Courtland Rd |
$330,000 |
| 30076 Gates Mills Blvd |
$340,000 |
| 2632 Brainard Rd |
$360,000 |
| 31220 Shaker Blvd |
$385,000 |
| 2650 Butternut Ln |
$425,000 |
| 3250 Willowbrook Dr |
$425,000 |
| 32631 Meadowlark Way |
$437,700 |
| 28129 Belcourt Rd |
$501,250 |
| 31129 S Woodland Rd |
$505,000 |
| 31175 Northwood Dr |
$523,000 |
| 3311 Oak Knoll Dr |
$607,000 |
| 2544 Ginger Wren Rd |
$650,000 |
| 2455 Botanica #34 |
$705,195 |
| 29875 Bolingbrook Rd |
$900,000 |
| 2634 Butterwing Rd |
$1,000,000 |
| 31200 Edgewood Rd |
1,100,000 |
| 31900 Pinetree Rd |
$1,500,000 |
All Sales # of homes sold Ave. Sales Price
Third Quarter 2010 23 $524,745
Third Quarter 2009 20 $333,520
YTD 2010 69 $461,219
YTD 2009 52 $373,403
SUMMARY
To begin, one thing to remember is that national housing statistics don't necessarily reflect what is really going on in here in Cleveland. In fact, real estate is so local, that certain suburbs, such as Pepper Pike, could actually be faring better than neighboring areas.
Specifically, things are starting to look favorable regarding sales and home values in Pepper Pike. Sales are up not only this past quarter, but year-to-date as well compared to last year. The average home price is also higher this year than in 2009. Given the current state of the economy, these statistics are actually quite impressive.
A major factor helping Pepper Pike home values is the significant growth of the luxury home market, specifically those homes valued at over $500,000. So far this year, we have had 26 homes sell for more than $500,000, compared to only 12 during the same time in 2009. We can conclude that high-end buyers are much more confident moving forward with a major purchase this year compared to last year.
Overall, while historically low interest rates certainly have helped fuel the market, we feel that home sellers are much more realistic, at least here in Pepper Pike, regarding their home values. This has helped bring buyers and sellers together to create a more favorable real estate market.
Pepper Pike real estate will continue to be regarded by many as very desirable thanks in part to the excellent rated ( by the State of Ohio ) schools, picturesque homes on beautiful 1 acre wooded lots, and ideal location.
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About The Authors:
Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.
For Ohio and Pepper Pike OH real estate and homes see Pepper Pike real estate
For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.
VIEW ALL PEPPER PIKE OH HOMES FOR SALE BY CLICKING BELOW
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Pepper Pike Real Estate - Home Value Report 3rd Quarter 2010P is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010
