1. In a saucepan over medium heat, combine the sliced peaches, brown sugar, butter, cinnamon, lemon juice, and a pinch of salt. Cook for 5 to 7 minutes, stirring occasionally, until the peaches soften and the juices release. For a thicker sauce, whisk together the cornstarch and water, then stir the slurry into the peach mixture and cook for an additional 30 to 60 seconds. Finally, remove the pan from the heat and stir in the vanilla extract.

2. In a large bowl, whisk together the all-purpose flour, sugar, baking powder, baking soda, and salt (and cinnamon, if using). In a separate bowl, whisk the buttermilk, egg, melted butter, and vanilla extract. Gently fold the wet ingredients into the dry ingredients, being careful not to overmix. Allow the batter to rest for 5 minutes before cooking.

3. Heat a nonstick skillet or griddle over medium heat and lightly grease it. Pour 1/4 cup of the pancake batter per pancake onto the hot surface. Cook for 2 to 3 minutes, or until bubbles form on the surface and the edges look set, then flip and cook for another 1 to 2 minutes until golden brown.