Is Parma, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Parma was a Neutral Market.
Housing Prices in Parma, MI
How much do homes in Parma, MI cost?
Median Sold Price
$220,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Parma was $220,000 in March 2024, down 9.3% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $134.9K | $174K | +28.9% |
3 Bedrooms | $209.9K | $215K | +2.4% |
4 Bedrooms | $251.5K | $256.1K | +1.8% |
5+ Bedrooms | $415K | $368.2K | -11.3% |
Summary: Parma housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 28.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 11.3%.
Median Sold Price Compared To Nearby Cities
Parma | $242.5K | $220K | -9.3% |
Parma Township | $242.5K | $220K | -9.3% |
Sandstone Township | $281K | $225K | -19.9% |
Housing Supply in Parma, MI
How many homes are available in Parma, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 15 | +36.4% |
Summary: The Parma real estate market had 15 homes for sale in March 2024, a 36.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 4 | 2 | -50.0% |
4 Bedrooms | 3 | 6 | +100.0% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Parma housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 2 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Parma in March 2024, down by 66.7% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Parma, MI
How long does it take to sell a home in Parma, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Parma; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.