Is Pepper Pike, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pepper Pike is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Pepper Pike was a Seller's Market.

Key Takeaway

Pepper Pike is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Pepper Pike, OH

How much do homes in Pepper Pike, OH cost?

Median Sold Price

$725,000

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$95,000(+15.1%)

Key Takeaway

Homes in Pepper Pike have sold for 15.1% more than they did a year ago.

Summary: The median home sold price in Pepper Pike was $725,000 in November 2024, up 15.1% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $325K$330K
+1.5%
3 $495K$699K
+41.2%
4 $630K$655K
+4.0%
5+ $824.5K$890K
+7.9%

Summary: Pepper Pike housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 41.2%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 7.9%.

Median Sold Price Compared To Nearby Cities

Mayfield Heights
+17.9%
Pepper Pike
+15.1%
Lyndhurst
0.0%
Beachwood
-8.0%

Housing Supply in Pepper Pike, OH

How many homes are available in Pepper Pike, OH?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3335+6.1%

Summary: The Pepper Pike real estate market had 35 homes for sale in November 2024, a 6.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 1316
+23.1%
4 1212
0.0%
5+ 86
-25.0%

Summary: The Pepper Pike housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
35+66.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pepper Pike, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Pepper Pike in November 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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

Nov 2023Nov 2024CHANGE
38 Days124 Days+223.2%

Summary: Homes in Pepper Pike had an average of 124 days on market in Nov 2024, up by 223.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Pepper Pike are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 5 homes were sold in Pepper Pike; 40% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

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