Is Parma Heights, 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 Heights has remained a Seller's Market.
Key Takeaway
Parma Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parma Heights, OH
How much do homes in Parma Heights, OH cost?
Median Sold Price
$193,000
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Parma Heights have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Parma Heights was $193,000 in March 2024, up 3.4% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59K | $89K | +50.8% |
| 2 Bedrooms | $125.5K | $123.5K | -1.6% |
| 3 Bedrooms | $186.2K | $195K | +4.7% |
| 4 Bedrooms | $214K | $215K | 0.5% |
| 5+ Bedrooms | $258K | $197K | -23.6% |
Summary: Parma Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.8%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 23.6%.
Median Sold Price Compared To Nearby Cities
| Parma | $180K | $195.2K | +8.5% |
| Parma Heights | $186.7K | $193K | +3.4% |
Housing Supply in Parma Heights, OH
How many homes are available in Parma Heights, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 42 | 42 | 0.0% |
Summary: The Parma Heights real estate market had 42 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 23 | 24 | +4.3% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Parma Heights 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 decreased by 16.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 8 | -52.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parma Heights, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Parma Heights in March 2024, down by 52.9% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 66 Days | 33 Days | -50.5% |
Summary: Homes in Parma Heights had an average of 33 days on market in Mar 2024, down by 50.5% compared to last year.
Breakdown of Home Sale Times
5 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 Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Parma Heights; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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