Is Parma, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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, NY
How much do homes in Parma, NY cost?
Median Sold Price
$265,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Parma have sold for 6% more than they did a year ago.
Summary: The median home sold price in Parma was $265,000 in June 2024, up 6% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $182K | $210K | +15.4% |
| 3 Bedrooms | $252.5K | $260.5K | +3.2% |
| 4 Bedrooms | $280K | $315K | +12.5% |
| 5+ Bedrooms | $307K | $275K | -10.4% |
Summary: Parma housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 10.4%.
Median Sold Price Compared To Nearby Cities
| Greece | $200K | $230K | +15.0% |
| Hamlin | $195K | $212.7K | +9.1% |
| Clarkson | $250K | $271.2K | +8.5% |
| Hilton | $255K | $275K | +7.8% |
| Parma | $249.9K | $265K | +6.0% |
Housing Supply in Parma, NY
How many homes are available in Parma, NY?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 38 | 35 | -7.9% |
Summary: The Parma real estate market had 35 homes for sale in June 2024, a 7.9% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 18 | 22 | +22.2% |
| 4 Bedrooms | 12 | 9 | -25.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Parma housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 22.2%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 10 | 17 | +70.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parma, you could pay more than the asking price. 82.4% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Parma in June 2024, up by 70.0% month-over-month. Of the 17 sold homes, 12% were sold under asking, 6% were sold at asking, and 82% were sold over asking.
Days on Market for Parma, NY
How long does it take to sell a home in Parma, NY?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 12 Days | 29 Days | +132.3% |
Summary: Homes in Parma had an average of 29 days on market in Jun 2024, up by 132.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Parma are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 17 homes were sold in Parma; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
