Is Pepper Pike, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Pepper Pike was a Neutral Market.
Key Takeaway
Pepper Pike is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pepper Pike, OH
How much do homes in Pepper Pike, OH cost?
Median Sold Price
$650,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pepper Pike have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Pepper Pike was $650,000 in May 2024, up 7.4% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $550K | $312.5K | -43.2% |
| 3 Bedrooms | $503.5K | $637.5K | +26.6% |
| 4 Bedrooms | $620K | $630K | +1.6% |
| 5+ Bedrooms | $862.5K | $795K | -7.8% |
Summary: Pepper Pike housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 43.2%, 3 bedroom homes increased by 26.6%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 7.8%.
Median Sold Price Compared To Nearby Cities
| Mayfield Heights | $192K | $217.7K | +13.4% |
| Pepper Pike | $605K | $650K | +7.4% |
| Lyndhurst | $207.8K | $215K | +3.4% |
| Beachwood | $405K | $395K | -2.5% |
Housing Supply in Pepper Pike, OH
How many homes are available in Pepper Pike, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 38 | +11.8% |
Summary: The Pepper Pike real estate market had 38 homes for sale in May 2024, a 11.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Pepper Pike housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pepper Pike, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Pepper Pike in May 2024, up by 350.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Pepper Pike, OH
How long does it take to sell a home in Pepper Pike, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 28 Days | +30.7% |
Summary: Homes in Pepper Pike had an average of 28 days on market in May 2024, up by 30.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pepper Pike are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Pepper Pike; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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