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Featured local agent — Palos Park, IL
Sarah Mitchell
Compass Real Estate · Palos Park, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Palos Park, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$426,000median sale price
How is the Palos Park, IL housing market right now?
The median home sale price in Palos Park, IL is $426,000, down 10.9% year-over-year. Homes sell in an average of 45 days with 23 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Palos Park a buyer's or seller's market?
Palos Park, IL is currently a balanced market, based on 4.6 months of supply and homes selling in about 45 days. How we determine this →
Homes sold
5
Last 12 weeks
Days on market
45
Average pace
Active listings
23
4.6 months supply
Sale-to-list
98.6%
Below asking
What does the Palos Park housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $426,000 |
| Median list price | $475,750 |
| Year-over-year price change | -10.9% |
| Average days on market | 45 days |
| Active inventory | 23 listings |
| Months of supply | 4.6 months |
| Sale-to-list price ratio | 98.6% |
| Median price per sq ft | $223/sq ft |
| Homes sold (latest month) | 5 |
| New listings (latest month) | 12 |
| Listings with a price cut | 13.0% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Palos Park by property type?
How the Palos Park, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $395,000 | $223/sq ft | 3 | 79 days |
| Condo / Co-op | $247,000 | $176/sq ft | 1 | 62 days |
| Townhouse | $454,250 | $184/sq ft | 2 | 41 days |
Source: Redfin · Updated monthly
The Palos Park housing market is currently classified as a balanced market with a median sale price of $426,000. Prices have fallen 10.9% compared to last year, with homes spending an average of 45 days on market, indicating 4.6 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.3x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Palos Park
There are currently 23 homes listed for sale in Palos Park, Illinois. The median listing price is $476K.
Active listings
23
Homes on market
Median list price
$476K
Avg. days on market
45
Days until sale
New this week
12
Newly listed
Who lives in Palos Park?
Population
4,832
Median income
$126,263/yr
Median age
60.6 years
Owner-occupied
90.0%
College grads
49.0%
Avg commute
31.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Palos Park?
Zillow home value
$545,071
Price-to-income
4.3x
Source: Zillow Research
What is it like to live in Palos Park?
Palos Park is a community of approximately 5K residents with a median age of 60.6 years.The median household income is $126,263, which reflects a relatively affluent area with strong earning potential. 49.0% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 90.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 31.4 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Palos Park offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Palos Park?
2 schools tracked · 1,413 students
The largest public schools serving Palos Park, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Palos West Elementary School
Grades PK-5 · 708 students
Palos South Middle School
Grades 6-8 · 705 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Palos Park, IL?
Want a head-to-head view? Compare Palos Park side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Palos Park?
The median home sale price in Palos Park is $426,000, down 10.9% from last year.
How long do homes stay on market in Palos Park?
Homes typically spend 45 days on market before going under contract.
What is the median income in Palos Park?
The median household income is $126,263 per year.
Is Palos Park a buyer's or seller's market?
With 4.6 months of supply, Palos Park is currently a balanced market.
What is the Zillow home value estimate for Palos Park?
The Zillow Home Value Index (ZHVI) for Palos Park is $545,071, representing the typical home value in the area.
What is the median condo price in Palos Park?
The median condo/co-op sale price in Palos Park, IL is $247,000, compared to $395,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Palos Park?
The median single-family home price in Palos Park, IL is $395,000 (about $223 per square foot).
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