Is Parma Heights, 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 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
$195,000
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Parma Heights have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Parma Heights was $195,000 in April 2024, up 4.4% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59K | $89K | +50.8% |
| 2 Bedrooms | $124K | $112.9K | -9.0% |
| 3 Bedrooms | $186.5K | $196.5K | +5.4% |
| 4 Bedrooms | $216.5K | $215K | -0.7% |
| 5+ Bedrooms | $258K | $197K | -23.6% |
Summary: Parma Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.8%, 2 bedroom homes decreased by 9%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 23.6%.
Median Sold Price Compared To Nearby Cities
| Parma | $182K | $196.9K | +8.2% |
| Parma Heights | $186.7K | $195K | +4.4% |
Housing Supply in Parma Heights, OH
How many homes are available in Parma Heights, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 54 | +22.7% |
Summary: The Parma Heights real estate market had 54 homes for sale in April 2024, a 22.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 24 | 31 | +29.2% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Parma Heights 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 increased by 28.6%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 25 | +212.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parma Heights, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Parma Heights in April 2024, up by 212.5% month-over-month. Of the 25 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 23 Days | -29.6% |
Summary: Homes in Parma Heights had an average of 23 days on market in Apr 2024, down by 29.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 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 April 2024, 25 homes were sold in Parma Heights; 76% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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