Is Parma, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Parma has remained a Seller's Market.
Housing Prices in Parma, OH
How much do homes in Parma, OH cost?
Median Sold Price
$195,250
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Parma was $195,250 in March 2024, up 8.5% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $91.5K | $89.3K | -2.4% |
2 Bedrooms | $140K | $157.9K | +12.8% |
3 Bedrooms | $179.9K | $195K | +8.4% |
4 Bedrooms | $200K | $220.5K | +10.3% |
5+ Bedrooms | $237.5K | $257.5K | +8.4% |
Summary: Parma housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.4%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
Brooklyn | $175K | $193K | +10.3% |
Parma | $180K | $195.2K | +8.5% |
Seven Hills | $265K | $285.7K | +7.8% |
Parma Heights | $186.7K | $193K | +3.4% |
Housing Supply in Parma, OH
How many homes are available in Parma, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
181 | 199 | +9.9% |
Summary: The Parma real estate market had 199 homes for sale in March 2024, a 9.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 14 | 11 | -21.4% |
3 Bedrooms | 125 | 140 | +12.0% |
4 Bedrooms | 34 | 41 | +20.6% |
5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Parma housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
52 | 69 | +32.7% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
41 Homes Were Sold
Over Asking
Summary: A total of 69 homes were sold or pending in Parma in March 2024, up by 32.7% month-over-month. Of the 69 sold homes, 28% were sold under asking, 13% were sold at asking, and 59% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 27 Days | -33.3% |
Summary: Homes in Parma had an average of 27 days on market in Mar 2024, down by 33.3% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 69 homes were sold in Parma; 71% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.