Is Parma, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$196,979
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Parma was $196,979 in April 2024, up 8.2% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $91.5K | $89K | -2.7% |
2 Bedrooms | $143.5K | $158K | +10.1% |
3 Bedrooms | $180K | $195K | +8.3% |
4 Bedrooms | $200K | $222.2K | +11.1% |
5+ Bedrooms | $244K | $255K | +4.5% |
Summary: Parma housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
Brooklyn | $175K | $195K | +11.4% |
Seven Hills | $264K | $288.5K | +9.3% |
Parma | $182K | $196.9K | +8.2% |
Parma Heights | $186.7K | $195K | +4.4% |
Housing Supply in Parma, OH
How many homes are available in Parma, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
209 | 213 | +1.9% |
Summary: The Parma real estate market had 213 homes for sale in April 2024, a 1.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 13 | 10 | -23.1% |
3 Bedrooms | 143 | 145 | +1.4% |
4 Bedrooms | 44 | 47 | +6.8% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Parma housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
74 | 84 | +13.5% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 84 homes were sold or pending in Parma in April 2024, up by 13.5% month-over-month. Of the 84 sold homes, 35% were sold under asking, 19% were sold at asking, and 46% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 30 Days | +25.1% |
Summary: Homes in Parma had an average of 30 days on market in Apr 2024, up by 25.1% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 84 homes were sold in Parma; 60% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.