Peaches ripen best when stored at room temperature out of direct sunlight and will bruise if stacked. Ripe peaches should be placed in the refrigerator and used within a week. However, unripened peaches should not be stored in the refrigerator as it can inhibit ripening and cause them to be dry and may steal flavor. Another way to ripen peaches is to store them in a brown paper bag for 24 to 48 hours.
Taken from: http://www.fruitandveggieguru.com/Peaches.html?pccid=33&tabid=70&kw=Peaches
