Park Ridge Home Prices & Values

$477,400 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

  • 5.8% 1-year change
  • 1.6% 1-year forecast

The median home value in Park Ridge is $477,400. Park Ridge home values have gone up 5.8% over the past year and Zillow predicts they will rise 1.6% within the next year. The median list price per square foot in Park Ridge is $277, which is higher than the New York Metro average of $252. The median price of homes currently listed in Park Ridge is $599,000 while the median price of homes that sold is $496,471. The median rent price in Park Ridge is $2,000.

Foreclosures will be a factor impacting home values in the next several years. In Park Ridge 1.8 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.4 and also lower than the national value of 4.3

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 Park Ridge is 9.2%, 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 Park Ridge homeowners underwater on their mortgage is 8.3%, which is lower than New York Metro at 14.7%.

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Relative ZHVI
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Park Ridge Market Overview

Data through Aug 31, 2014
  • $477,400 ZHVI
  • 1.6% 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

    (Aug 31, 2015)
  • $599,000 Median listing price
  • $496,471 Median sale price
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Park Ridge Market Health

Data through Aug 31, 2014
  • 7.8/10 Very 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
  • 8.3% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 9.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

1.8 homes Park Ridge
1.4 homes New York Metro
4.3 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Saddle River $1,691,500 Woodcliff Lake $693,600 River Vale $571,100
Montvale $541,200 Washington Township $498,400 Hillsdale $492,600
Westwood $409,300 Chestnut Ridge $400,600 Pearl River $387,500

Listings & Sales

Data through Aug 31, 2014
  • $277 Median list price / sq ft
  • $250 Median sale price / sq ft
  • 51.2% Listings with price cut
26.6%
Sold below listing
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Park Ridge Rentals

Data through Aug 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
$2,840 Park Ridge
$2,340 New York Metro
$1,328 United States
  • 2.4 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, 2014)
  • $2,000 Rent list price
  • No recent data Rent list price / sq ft
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