Pepper Pike Ohio Real Estate: First Quarter Market Report 2009

By
Real Estate Agent with Howard Hanna Real Estate Services

The first quarter is officially over and the Pepper Pike real estate market fared pretty well during what is considered to be the slowest quarter of the year.

Officially, 13 homes sold during the first three months of 2009 compared to 12 during the first quarter of 2008.  

Here is how the first quarter of 2009 compares with the same time period from 2008 here in Pepper Pike:

Year # Of Sold Homes Ave. Sale Price Ave. Market Time
2009 13 $439,591 135  
2008 12 $408,493 150  

SUMMARY

The fact that more homes sold in the first quarter of 2009 than during the same time period last year is a good sign for real estate in Pepper Pike. Additionally, the average sales price is up from last year and market time is down.

Moving forward, the second quarter should be off to a good start. There are currently 14 homes under contract, many occurring within the last 30 days. This may be a sign of increased activity. Also, the new $8000 first time buyer tax credit could have a positive impact on home sales in a higher-end suburb like Pepper Pike. First-time buyers will be more likely to buy in areas like Lyndhurst, University Heights and other more affordable areas, allowing those sellers to move up and buy homes in upscale areas like Pepper Pike.  

Check out other quarterly reports from nearby suburbs:

Bainbridge Ohio 2009 First Quarter Market Report

Beachwood Ohio 2009 First Quarter Market Report

Moreland Hills Ohio 2009 First Quarter Market Report

Orange Village Ohio 2009 First Quarter Market Report

Solon 2009 First Quarter Luxury Home Market Report

Solon 2009 First Quarter Market Report All Homes

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About The Authors:

Dan and Amy Schuman reside in the eastern suburbs of Cleveland. The Schuman Team uses their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and the Schuman Team's listings sold in less than 60 days.

The Schuman Team specializes in luxury homes. They are founding members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and also members of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. They also work extensively with buyers and sellers who are relocating in or out of the area.

If you are looking to buy or sell a home in Bainbridge,BeachwoodMoreland HillsOrange, Pepper Pike, Solon, or the surrounding Eastern suburbs of Cleveland, please contact the Schuman Team as they would be happy to show you why people love working with them.

To see all homes currently on the market in the Cleveland Ohio area, click here. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

Check out the award-winning website, www.schumanteam.com .

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All content is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

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Ohio Cuyahoga County Pepper Pike
Tags:
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Rainer
81,516
David Width Jr.
Little Egg Harbor, NJ

We had a couple more closings here in Southern NJ, but our average sales price is no where near that high. Good job posting local statistics, it is so informative and important, in fact I just did a quarterly blog for my area yesterday. Good luck the rest of the year.

Apr 03, 2009 03:36 AM #1
Rainmaker
301,969
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Hi David, thanks for the comments. The first quarter is always the slowest. I'm confident the second quarter will improve as the weather gets nicer.

Apr 03, 2009 04:50 AM #2
Rainmaker
861,275
Gabrielle Kamahele Rhind
KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ
Broker/Owner

GOOD MORNING DAN!  I am curious if you are able to get the stats on how many homes are up for sale during each quarter?  I am happy to read that sales are climbing! -- Gabrielle

Apr 04, 2009 01:06 AM #3
Rainmaker
301,969
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Hi Gabrielle, you are up early as always. Yes, we have the ability to get those stats. I may think of incorporating those with our next report. Thanks for your suggestion.

Apr 04, 2009 01:24 AM #4
Rainmaker
525,302
Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

Wow, market values are UP and days on market is DOWN!  Who'd have thunk?

Join my NEW group for professionals who work from their home office at http://activerain.com/groups/virtualoffice

Regina P. Brown

Apr 04, 2009 07:13 AM #5
Rainmaker
301,969
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Thanks for the comment Regina. I'll have to check out your new group. Thanks for letting us know.

dan

Apr 04, 2009 02:28 PM #6
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Rainmaker
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Dan and Amy Schuman

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