Continuing our market report series, here is the Market Report for Pepper Pike from July 31 to September 30,2008. Pepper Pike has a population of 6,000. This report takes averages from the whole city.
There are currently 97 active listings on the market in Pepper Pike. The averagae list price is $589,293.
These homes have been on the market an average of 127 days.
Homes that are now under contract are the most recent successes, these sellers have reached their goals.
There are currently 4 pending listings in Pepper Pike.
These homes have been on the market an average of 94 days.
Homes that have recently sold are historic indicators of perceived value. Appraisers will use this data when determining the loan value of your home.
There were 6 properties sold since July 31, 2008 in Pepper Pike.
These homes were on the market for an average of 194 days.
The average sale price of $368,017 divided by the average list price of $385,783, tells us
that sellers are accepting, on the average, 96% of the list price.
Homes that have been on the market and never sold tell us a story.
The total number of market rejected homes (expired listings) since July 31, 2008 is 25.
These homes have been on the market an average of 195 days.
If you take the Pending listings (4) + the total number of sold (6) = (10)recent successes
10 recent successes divided by 2 months = 5 homes that sell per month.
97 active listings divided by 5 homes that sell per month = 19.4 months of inventory in Pepper Pike.
Compare these stats to the Pepper Pike Market Report Jan-July and you decide if the market is getting better or worse.
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For more information on the Pepper Pike housing market or if you are looking to buy or sell a home in the Greater Cleveland area please contact Erin Snyder Oakley at 216-410-8221 or email Erin@NoPlaceLikeCleveland.com.
