Park Ridge, IL Foreclosures
How much do homes sell for in Park Ridge, IL?
The average home price is currently $648,606.
In Park Ridge, IL, how many homes are available?
There are currently 27 active home listings available in Park Ridge.
What’s the average rental cost in Park Ridge, IL?
The average rental price in Park Ridge is $2,493.
What is the most expensive home in Park Ridge?
The most expensive home sold in Park Ridge had a price of $78,578,348.
What is currently the cheapest priced home in Park Ridge, IL?
The cheapest home for sale in Park Ridge is priced at $13,893.
Living in Park Ridge, IL
Park Ridge, set just a short distance from Chicago, is a vibrant suburban community that combines small-town charm with modern conveniences. Known for its excellent schools, beautiful parks, and local amenities, it’s a sought-after location for families and professionals alike. With a welcoming atmosphere and rich community spirit, Park Ridge offers a perfect blend of recreational, educational, and cultural opportunities.
Current Market Conditions in Park Ridge, IL
The Park Ridge real estate market continues to show resilience, despite broader economic challenges. Home prices in the area have seen a modest increase over the past year, driven by steady demand and limited inventory. As families seek out safe, welcoming neighborhoods with quality schools, Park Ridge remains an attractive option for buyers looking to invest in a growing market.
Recent trends indicate a competitive market, particularly for single-family homes. Many properties are receiving multiple offers, reflecting the desirability of Park Ridge's family-friendly environment and proximity to Chicago. Meanwhile, the rental market is thriving, with an increasing number of young professionals and empty nesters looking for rental options in this suburban haven.
Home Value Estimator For Park Ridge, IL
There are currently 15,581 real estate properties
in Park Ridge, IL,
with a median automated valuation model (AVM) price
of $576,443.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Park Ridge, IL, 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 Park Ridge, IL,
is $648,606.00, with the most expensive house
in Park Ridge, IL, topping out
at $78,578,348.00 and the cheapest home
in Park Ridge, IL,
clocking in at $13,893.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Park Ridge, IL!
Rent Prices
In Park Ridge, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Park Ridge, IL, is on
a rollercoaster ride. The
average rent price in Park Ridge, IL,
is $2,493.00. Indeed, when looking to rent in
Park Ridge, IL, you can expect to pay as little
as $780.00 or as much
as $4,540.00,
with the average rent median estimated to
be $2,470.00. The good news is that finding
an affordable and desirable property to rent in Park Ridge, IL
-- 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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