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Preheat the oven to 350℉ and spray a deep 9-inch cake pan with pan spray. Set aside.
Bring a medium pot of water to a boil. Cut a small X on the bottom of each peach. Once the water is boiling, submerge the peaches for 10-20 seconds and then remove them to an ice bath. Once the peaches are cooled in the ice bath, peel off the skins and slice them in half. Cut the peeled peaches into ½-¾ inch thick slices. Toss the peach slices in lemon juice and set them aside.
Combine the brown sugar and melted butter in a bowl and pour onto the bottom of the prepared cake pan. Arrange the peach slices on top of the mixture.
In a medium-sized bowl, combine the flour, baking powder, and salt.
In another medium bowl, combine the softened butter with the granulated and brown sugars. Beat with a stand mixer or hand mixer until fluffy. Add in the egg, sour cream, and milk and beat until just combined. Add in the flour mixture and beat until combined.
Spread the batter evenly over the top of the peaches in the cake pan. Bake for 35-40 minutes, until golden brown and a toothpick comes out clean from the center of the cake.
Let the cake cool for 10 minutes before flipping it onto a plate or cake stand. You may serve it warm or let the cake cool before serving. Serve with whipped cream or vanilla ice cream, if you wish.