$215,000
40.00 Acres
Land
Kellene Fast, Listing Office: RE/MAX Hometown
Is Parma Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Parma Township has remained a Seller's Market.
Key Takeaway
Parma Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parma Township, MI
How much do homes in Parma Township, MI cost?
Median Sold Price
$198,000
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$42,000(-17.5%)
Key Takeaway
Homes in Parma Township have sold for 17.5% less than they did a year ago.
Summary: The median home sold price in Parma Township was $198,000 in October 2024, down 17.5% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $88K | N/A |
| 2 Bedrooms | $110K | $171.9K | +56.3% |
| 3 Bedrooms | $227.7K | $195.7K | -14.1% |
| 4 Bedrooms | $251.5K | $269K | +7.0% |
| 5+ Bedrooms | $329K | $225K | -31.6% |
Summary: Parma Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 56.3%, 3 bedroom homes decreased by 14.1%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 31.6%.
Median Sold Price Compared To Nearby Cities
| Springport Township | $182.5K | $185K | +1.4% |
| Concord Township | $239K | $230K | -3.8% |
| Parma | $241K | $205.4K | -14.7% |
| Parma Township | $240K | $198K | -17.5% |
Housing Supply in Parma Township, MI
How many homes are available in Parma Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 30 | +7.1% |
Summary: The Parma Township real estate market had 30 homes for sale in October 2024, a 7.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Parma Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parma Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Parma Township in October 2024, up by 300.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Parma Township, MI
How long does it take to sell a home in Parma Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 79 Days | +172.4% |
Summary: Homes in Parma Township had an average of 79 days on market in Oct 2024, up by 172.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Parma Township has remained consistent over time.
Summary: During October 2024, 8 homes were sold in Parma Township; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% 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.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.