$3,561 Closing Credit*
$299,900
1,604 SqFt
3 Beds
•2 Full Baths
Laurie C Mireiter, Listing Office: Real Estate Quest, Inc.
Is Parma, OH 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 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, OH
How much do homes in Parma, OH cost?
Median Sold Price
$205,143
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,969(+7.9%)
Key Takeaway
Homes in Parma have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Parma was $205,143 in October 2024, up 7.9% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77.2K | $114.3K | +48.0% |
| 2 Bedrooms | $158K | $165K | +4.4% |
| 3 Bedrooms | $189.5K | $204.7K | +8.0% |
| 4 Bedrooms | $215K | $235K | +9.3% |
| 5+ Bedrooms | $255K | $260K | +2.0% |
Summary: Parma housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
| Seven Hills | $266.6K | $311K | +16.7% |
| Parma Heights | $187.5K | $210K | +12.0% |
| Brooklyn | $180K | $200.2K | +11.3% |
| Parma | $190.1K | $205.1K | +7.9% |
Housing Supply in Parma, OH
How many homes are available in Parma, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 262 | 264 | +0.8% |
Summary: The Parma real estate market had 264 homes for sale in October 2024, a 0.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 22 | 19 | -13.6% |
| 3 Bedrooms | 184 | 188 | +2.2% |
| 4 Bedrooms | 43 | 47 | +9.3% |
| 5+ Bedrooms | 12 | 10 | -16.7% |
Summary: The Parma housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 13.6%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 84 | +10.5% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parma, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.
Summary: A total of 84 homes were sold or pending in Parma in October 2024, up by 10.5% month-over-month. Of the 84 sold homes, 36% were sold under asking, 12% were sold at asking, and 52% were sold over asking.
Days on Market for Parma, OH
How long does it take to sell a home in Parma, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 31 Days | +50.3% |
Summary: Homes in Parma had an average of 31 days on market in Oct 2024, up by 50.3% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Parma are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 84 homes were sold in Parma; 57% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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