I've been following the Young Team's writings about the Pepper Pike real estate market for a while now. Here's another very informative blog post by them, from June 13, 2011, just over a month ago, and it concerns the City's market during the month of May. An excerpt:
In May, a total of 10 properties went under contract. The biggest problem with the homes that went under contract were that they are well below the $575,000 average. The average home price in Pepper Pike for homes that went under contract was $380,000. The luxury home market in Pepper Pike has been extremely slow with only 2 homes going under contract. In real estate we define the luxury market as homes over $500,000. Both of these homes were two of the lower priced homes in Pepper Pike’s luxury market averaging a listing price of $550,000.If you are interested in following this kind of information, set a Google alert to "Pepper Pike" or check the sidebar on this blog where headlines for Pepper Pike alerts come up.
The summary of Pepper Pike’s real estate market for the month of May is that properties are selling, just not much of the luxury inventory. Hopefully in June we will continue to see several homes put under contract in Pepper Pike, as well as some of the luxury homes in Pepper Pike.