Palisades Park Home Prices & Values

$512,700 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 8.9% 1-year change
  • -0.8% 1-year forecast

The median home value in Palisades Park is $512,700. Palisades Park home values have gone up 8.9% over the past year and Zillow predicts they will fall -0.8% within the next year. The median list price per square foot in Palisades Park is $284, which is higher than the New York Metro average of $261. The median price of homes currently listed in Palisades Park is $569,000 while the median price of homes that sold is $510,000. The median rent price in Palisades Park is $1,750.

Foreclosures will be a factor impacting home values in the next several years. In Palisades Park 2.5 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.2 and also lower than the national value of 4.4

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Palisades Park is 17.3%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Palisades Park homeowners underwater on their mortgage is 16.6%, which is higher than New York Metro at 14.7%.

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Relative ZHVI
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Palisades Park Market Overview

Data through Jul 31, 2014
  • $512,700 ZHVI
  • -0.8% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $569,000 Median listing price
  • $510,000 Median sale price
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Palisades Park Market Health

Data through Jul 31, 2014
  • 6.2/10 Healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 16.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 17.3% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2.5 homes Palisades Park
1.2 homes New York Metro
4.4 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Fort Lee $502,700 Leonia $489,500 Edgewater $445,400
Ridgefield $406,800 Cliffside Park $387,200 Fairview $316,600
Little Ferry $306,700 Bogota $301,900 Ridgefield Park $282,600

Listings & Sales

Data through Jul 31, 2014
  • $284 Median list price / sq ft
  • $254 Median sale price / sq ft
  • 30.0% Listings with price cut
20.3%
Sold below listing
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Palisades Park Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,709 Palisades Park
$2,316 New York Metro
$1,318 United States
  • 5.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,750 Rent list price
  • No recent data Rent list price / sq ft
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