$1,500,000
13.70 Acres
Land
GEORGE PIERSON, Listing Office: Home 1st Real Estate
Is Parma, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Parma has remained a Seller's Market.
Key Takeaway
Parma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parma, MI
How much do homes in Parma, MI cost?
Median Sold Price
$185,000
$138/sqft
Based on all homes sold in December 2024.
Difference Since Last Month
-$185,000(-50.0%)
Key Takeaway
Homes in Parma have sold for 50% less than they did a month ago.
Summary: The median home sold price in Parma was $185,000 in December 2024, down 50% from last month, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $280K | $175K | -37.5% |
| 3 Bedrooms | $402.4K | $165K | -59.0% |
| 4 Bedrooms | - | $195K | N/A |
| 5+ Bedrooms | $470K | $340K | -27.7% |
Summary: Parma housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 37.5%, 3 bedroom homes decreased by 59%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 27.7%.
Median Sold Price Compared To Nearby Cities
| Sandstone Township | $299.9K | $175K | -41.6% |
| Parma | $370K | $185K | -50.0% |
Housing Supply in Parma, MI
How many homes are available in Parma, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 15 | 11 | -26.7% |
Summary: The Parma real estate market had 11 homes for sale in December 2024, a 26.7% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Parma housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parma, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Parma in December 2024, down by 20.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Parma, MI
How long does it take to sell a home in Parma, MI?
Average Sale Time
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 67 Days | 103 Days | +54.0% |
Summary: Homes in Parma had an average of 103 days on market in Dec 2024, up by 54% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Parma has remained consistent over time.
Summary: During December 2024, 4 homes were sold in Parma; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.