Living in Parma, OH
Parma, OH is a suburban city known for its welcoming community and family-oriented environment. With ample parks, schools, and local businesses, it offers residents a suburban lifestyle with easy access to Cleveland. The city stands out for its diverse dining options and community events, making it an attractive destination for homebuyers.
Current Market Conditions in Parma, OH
The real estate market in Parma has shown a steady growth in recent years, driven by the demand for affordable housing close to Cleveland. Buyers are attracted to the area due to its suburban charm, good schools, and amenities, contributing to an increasing number of home purchases.
In the past year, there has been a noticeable increase in home values in Parma, reflecting the city's appeal as more people look to settle in suburban areas for quality living without straying too far from urban job markets.
The market currently favors sellers, as properties tend to sell quickly, often with multiple offers. This trend indicates a competitive environment for buyers, especially in sought-after neighborhoods.
Home Value Estimator For Parma, OH
There are currently 23,980 real estate properties
in Parma, OH,
with a median automated valuation model (AVM) price
of $212,159.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Parma, OH, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Parma, OH,
is $245,507.00, with the most expensive house
in Parma, OH, topping out
at $141,660,512.00 and the cheapest home
in Parma, OH,
clocking in at $14,062.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Parma, OH!
Rent Prices
In Parma, OH
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Parma, OH, is on
a rollercoaster ride. The
average rent price in Parma, OH,
is $1,100.00. Indeed, when looking to rent in
Parma, OH, you can expect to pay as little
as $520.00 or as much
as $2,190.00,
with the average rent median estimated to
be $1,080.00. The good news is that finding
an affordable and desirable property to rent in Parma, OH
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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