Dympna Fay-Hart
Serving Chicago Area Sellers & Buyers

(773) 230-3800

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Park Ridge, Illinois, Real Estate Market Update Year-End 2015

Park Ridge ended 2015 with increases in the median sales price, closed sales, and available inventory . . . promising signs of good opportunities ahead for both sellers and buyers in 2016.

There were 25.8% more new listings in 2015 than the previous year.  The increase in prices may have convinced more homeowners to sell, loosening up the tight inventory issue a bit.  The median sales price in 2015 in Park Ridge was $398,000 compared to $359,000 in 2014.  There were also more homes for sale at the end of this year than last as we move into 2016.

Closed sales were up slightly (1.4%) with 565 closed sales in 2015, and homes were on the market for an average of 84 days.

We're looking forward to many good opportunities for sellers and buyers in Park Ridge in 2016.  The trends and momentum are moving in the right direction.  Please contact me any time for help selling, buying, or for community information.  I'm here to help any way that I can.