Park Ridge, IL 60068 Real Estate Market Report

ZIP Code: 60068
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The housing market in Park Ridge, IL is currently characterized by a median sold price of $600,000, reflecting a stable transaction environment. Although specific historical price change data is unavailable, the market has shown signs of moderate price appreciation, with a median listing price of $735,000 indicating seller expectations that are higher than recent sale outcomes. This pricing gap suggests potential negotiation opportunities for buyers as they regain some leverage in this balanced market.

The current market conditions are marked by 243 days on market, indicating a slower sales velocity, which may be attributed to elevated inventory levels relative to sales activity. With a median price per square foot of approximately $358.41, the market remains attractive, although the neutral market temperature suggests that while demand is steady, it is not accelerating significantly. Overall, the market appears to be stabilizing, with buyers and sellers finding common ground amidst moderate interest rate pressure.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Park Ridge, IL are averaging 6.38% as of March 26, 2026, which is 0.3% higher than the rate of 6.08% seen in early March 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $600,000 is the median sold price, indicating stable transaction activity in the market.

2. The median listing price of $735,000 suggests a pricing friction between seller expectations and buyer willingness.

3. With 243 days on market, the market is experiencing a slower sales velocity, which may indicate a need for price adjustments.

4. The median price per square foot stands at $358.41, reflecting a consistent valuation in the area.

5. The market temperature is currently neutral, suggesting balanced conditions between buyers and sellers.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.