Is Parma Heights, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Parma Heights has remained a Seller's Market.
Housing Prices in Parma Heights, OH
How much do homes in Parma Heights, OH cost?
Median Sold Price
$197,750
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Parma Heights was $197,750 in May 2024, up 6.3% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $89.5K | $77K | -14.0% |
2 Bedrooms | $126.7K | $112.9K | -10.9% |
3 Bedrooms | $187.1K | $200.2K | +7.0% |
4 Bedrooms | $212K | $220K | +3.8% |
5+ Bedrooms | $267K | $197K | -26.2% |
Summary: Parma Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 26.2%.
Median Sold Price Compared To Nearby Cities
Parma | $182.1K | $200K | +9.8% |
Parma Heights | $186K | $197.7K | +6.3% |
Housing Supply in Parma Heights, OH
How many homes are available in Parma Heights, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 61 | +3.4% |
Summary: The Parma Heights real estate market had 61 homes for sale in May 2024, a 3.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 4 | -55.6% |
3 Bedrooms | 36 | 47 | +30.6% |
4 Bedrooms | 13 | 9 | -30.8% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Parma Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 55.6%, 3 bedroom homes increased by 30.6%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 24 | -7.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Parma Heights in May 2024, down by 7.7% month-over-month. Of the 24 sold homes, 21% were sold under asking, 21% were sold at asking, and 58% were sold over asking.
Days on Market for Parma Heights, OH
How long does it take to sell a home in Parma Heights, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 21 Days | -1.0% |
Summary: Homes in Parma Heights had an average of 21 days on market in May 2024, down by 1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Parma Heights; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.