Metasequoia-based three-layer parquet flooring (MPF) was prepared under the following conditions: hot-pressing temperature of 95°C, hot-pressing time of 7 minutes, hot-pressing pressure of 9 kg·cm−2, and addition of 200 g·m−2 urea-formaldehyde resin adhesive. The results showed that the moisture content, density, formaldehyde emission, static bending strength, and elastic modulus of the three kinds of parquet flooring were not much different than poplar-based multilayer parquet flooring (PPF) or fir-based three-layer parquet flooring (FPF) on the market. The thermal conductivity of the MPF was 0.195 W·m−1·K−1, which was the lowest among the three kinds of parquet flooring. The sound absorption coefficient of MPF under 11 frequency conditions in the range of 0.2 to 2 kHz was higher than that of PPF and FPF under the same frequency condition. The research results provide a reference value for the efficient use of low-quality M. glyptostroboides wood.