Home Values

Palos Park Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$339,000

  • -2.2% 1-year change
  • 0.6% 1-year forecast

The median home value in Palos Park is $339,000. Palos Park home values have declined -2.2% over the past year and Zillow predicts they will rise 0.6% within the next year. The median list price per square foot in Palos Park is $181, which is higher than the Chicago Metro average of $131. The median price of homes currently listed in Palos Park is $415,000 while the median price of homes that sold is $267,235.

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 Palos Park is 4.3%, which is lower than the national value of 6.4%. 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 Palos Park homeowners underwater on their mortgage is 11.7%, which is lower than Chicago Metro at 25.3%.

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Relative ZHVI
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Palos Park Market Overview

Data through Nov 30, 2014
  • $339,000 ZHVI
  • 0.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $415,000 Median listing price
  • $267,235 Median sale price (Sep 30, 2014)
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Palos Park Market Health

Data through Nov 30, 2014
  • 1.8/10 Less healthy
    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
  • 11.7% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 4.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Cities

Name Median ZHVI
Orland Park $248,600
Willow Springs $245,100
Palos Heights $238,900
Name Median ZHVI
Hickory Hills $198,400
Orland Hills $193,400
Justice $172,100
Name Median ZHVI
Palos Hills $157,400
Worth $142,400
Chicago Ridge $130,400

Listings & Sales

Data through Nov 30, 2014
  • $181 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • No data Listings with price cut
16.4%
Sold below listing
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Palos Park Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $2,165 Palos Park
    $1,636 Chicago Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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