Is Park Ridge, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Park Ridge was a Seller's Market.
Key Takeaway
Park Ridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Park Ridge, NJ
How much do homes in Park Ridge, NJ cost?
Median Sold Price
$830,000
-
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Park Ridge have sold for 9.4% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $520K | $830K | +59.6% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $1.3M | - | N/A |
Summary: Park Ridge housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 59.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Hillsdale | $642.5K | $742.2K | +15.5% |
| Park Ridge | $916.2K | $830K | -9.4% |
Housing Supply in Park Ridge, NJ
How many homes are available in Park Ridge, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 11 | +175.0% |
Summary: The Park Ridge real estate market had 11 homes for sale in March 2024, a 175.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 2 | 6 | +200.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Park Ridge housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 200%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Park Ridge, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Park Ridge in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Park Ridge, NJ
We’re sorry, we don't have information for this market at the moment
