$3,918 Closing Credit*
$329,900
1,822 SqFt
3 Beds
•2 Full Baths, 1 Partial
KIMBERLY J KURTZ, Listing Office: EXIT REALTY 1ST LLC
Is Parma, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 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
$210,000
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$5,000(-2.3%)
Key Takeaway
Homes in Parma have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in Parma was $210,000 in November 2024, down 2.3% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $88K | N/A |
| 2 Bedrooms | $179.4K | $174K | -3.0% |
| 3 Bedrooms | $217.5K | $209.9K | -3.5% |
| 4 Bedrooms | $200K | $269K | +34.5% |
| 5+ Bedrooms | $368.2K | $385K | +4.5% |
Summary: Parma housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Parma | $215K | $210K | -2.3% |
| Parma Township | $215K | $202.9K | -5.6% |
Housing Supply in Parma, MI
How many homes are available in Parma, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 17 | -26.1% |
Summary: The Parma real estate market had 17 homes for sale in November 2024, a 26.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 6 | 3 | -50.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Parma housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 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. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Parma in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% 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 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 67 Days | +129.7% |
Summary: Homes in Parma had an average of 67 days on market in Nov 2024, up by 129.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Parma has remained consistent over time.
Summary: During November 2024, 5 homes were sold in Parma; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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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.