$2,191 Closing Credit*
$184,500
1,075 SqFt
3 Beds
•1 Full Bath
Scott Fader, Listing Office: Joseph Walter Realty, LLC.
Is Parma, OH 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, OH
How much do homes in Parma, OH cost?
Median Sold Price
$207,592
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,471(+9.2%)
Key Takeaway
Homes in Parma have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Parma was $207,592 in November 2024, up 9.2% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77.2K | $114.3K | +48.0% |
| 2 Bedrooms | $157.9K | $175K | +10.8% |
| 3 Bedrooms | $189.8K | $205.6K | +8.3% |
| 4 Bedrooms | $214.9K | $238.5K | +11.0% |
| 5+ Bedrooms | $257.5K | $260K | +1.0% |
Summary: Parma housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Cities
| Seven Hills | $269.9K | $310K | +14.8% |
| Parma Heights | $190K | $210K | +10.5% |
| Parma | $190.1K | $207.5K | +9.2% |
| Brooklyn | $185.2K | $200K | +8.0% |
Housing Supply in Parma, OH
How many homes are available in Parma, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 272 | 221 | -18.8% |
Summary: The Parma real estate market had 221 homes for sale in November 2024, a 18.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 22 | 16 | -27.3% |
| 3 Bedrooms | 193 | 165 | -14.5% |
| 4 Bedrooms | 47 | 33 | -29.8% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
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 27.3%, 3 bedroom homes decreased by 14.5%, 4 bedroom homes decreased by 29.8%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 88 | 67 | -23.9% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parma, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.
Summary: A total of 67 homes were sold or pending in Parma in November 2024, down by 23.9% month-over-month. Of the 67 sold homes, 27% were sold under asking, 21% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 30 Days | +56.4% |
Summary: Homes in Parma had an average of 30 days on market in Nov 2024, up by 56.4% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
4 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 November 2024, 67 homes were sold in Parma; 63% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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