Parma home prices rise in the third quarter of 2020

Medium realestate1

The median sale price of a home sold in the third quarter of 2020 in Parma rose by $17,049 while total sales decreased by 13.1%, according to

From July through September of 2020, there were 352 homes sold, with a median sale price of $140,050 - a 13.9% increase over the $123,001 median sale price for the same period of the previous year. There were 405 homes sold in Parma in the third quarter of 2019.

The median sales tax in Parma for the most recent year with available data, 2019, was $2,953, approximately 2.1% of the median home sale price for the third quarter of 2020.

The following table compares Parma to other Cuyahoga County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Mayfield Heights6889-23.6%$161,500$135,00019.6%
Richmond Heights4041-2.4%$147,950$134,9009.7%
Brook Park6485-24.7%$145,050$130,00011.6%
Parma Heights94106-11.3%$140,000$126,75010.5%
Highland Hills10-$137,900$0-
Cleveland Heights23921312.2%$133,000$112,00018.8%
Bedford Heights1932-40.6%$122,000$80,00052.5%

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