Parma still has a sizable inventory of homes listed (over 500) but having clients in Parma afforded my business partner Melissa Bennett and I the ability to scope out the market there. What we found: good traffic at open houses, good group of qualified buyers. And they bought! (almost 400 sold this year.) The stats above and the detailed ones I am going to provide are for single family homes (which make up the bulk of the for sale housing stock in Parma). As usual, my stats come from my investigation of homes listed and sold with area brokers.
Let’s get to the details !
There are 595 single family homes listed for sale right now. There are 24 listings around 90k, including a ranch on Velma with an updated kitchen and three bedrooms. It’s listed for $89,900.
You could buy a bungalow with 4 bedrooms and two full baths on Liberty Ave with good square footage. It’s also listed for $89,900.
The average Parma single family home listing price is $122,124. For around that price you could buy……a cape cod home on Tuxedo for $119,000 with 3brs and 1 1/2 bath, a large kitchen a pretty landscaped yard.
A 3 br, 1 and 1/2 bath brick ranch on Ridge Road for $119,500 and a brick ranch on Dell Haven for $122,000.
Are homes selling after the Federal Tax Credit deadline passed? Yes. Homes pending or contingent on our multiple listing service (meaning waiting to transfer owners) number 81 homes. That is a healthy group of buyers. The average listed price for homes buyers currently found attractive enough to put under contract is $97,675.
380 Parma single family homes have sold since January 2010. They ranged in price from $19,900 for a smaller, 2br home on Russell, to a fancier 4br, 2 bath home on Lourdes which sold for $222,000. Yes, there are still foreclosure issues as there are in other communities, but of the 8 pages of listings sold in Parma, the bulk of the sales occurred between the prices of $80,000 and $115,000. This includes a listing Melissa and I sold at 1208 Parkleigh for $89,900.
Did you know that Parma is the largest suburb of Cleveland? The population is around 87,000 (we’ll see what the 2010 census states, but for now, these stats come from the last census).
Home Values In Parma Go here if you want to learn more stats about your own Parma home and the neighborhood in general!
Any questions, don’t hesitate to let me know. Peace Out – 3C
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