Park Ridge, IL 60068 Real Estate Market Report

ZIP Code: 60068
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Park Ridge, IL, are averaging approximately 6.25%, reflecting the broader market trend of rates hovering above 6% throughout early 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. The primary market indicator, the $595,000 median sold price, points to the neighborhood’s realized market value based on recent transactions and should be the primary anchor for pricing decisions.

2. Despite the median listing price of $539,900, recent sales show a higher median sold price, which suggests a potential pricing gap between seller expectations and completed transactions and may indicate strong buyer willingness to pay above asking in contested situations.

3. Liquidity appears muted by calendar measures: the median days on market is 287, which reflects slower sales velocity even as the market is described as hot—this combination suggests pricing friction and that motivated pricing or condition/marketing differentiation may be required to accelerate closings.

4. Market fundamentals show a $338 median price per square foot and $2,400 median market rent, while broader indicators are mixed: the price year-over-year trend is up, rent year-over-year trend is down, and interest rate pressure is elevated; together these signals suggest buyers face affordability headwinds even as transaction prices remain strong and active supply appears relatively constrained.

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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.

Park Ridge, IL 60068 Real Estate Market Report

ZIP Code: 60068
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Park Ridge, IL, are averaging approximately 6.25%, reflecting the broader market trend of rates hovering above 6% throughout early 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. median sold price: 274,000 is the primary indicator of recent transaction value in Park Ridge and suggests the representative recent sale price that buyers are achieving, even though the median listing price: 419,500 indicates seller expectations are materially higher than completed transactions, which may signal pricing friction between asking and achieved values.

2. The market shows an upward price trajectory with price year-over-year trend: up and a market temperature: hot, implying continued buyer interest; however, the very long median days on market: 326 suggests slower sales velocity for many listings and that transactions are taking longer to move from listing to close.

3. Rents are softening relative to last year as evidenced by rent year-over-year trend: down, and with a median market rent: 2,300, investors should view near-term rental income growth as muted and factor in longer hold periods when underwriting acquisitions.

4. Interest rate conditions remain a headwind: interest rate pressure: elevated (with 30-year fixed rates averaging approximately 6.25%), which may constrain affordability and keep buyers sensitive to price and financing terms, so sellers and agents should consider stronger concessions or more realistic pricing to maintain momentum.

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Notable Properties

The following 1 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.