Melrose Park, IL Home Values & Market Trends
Real estate market trends reflect that there have been 226 transactions over the past year in Melrose Park. The median value for residential home transactions that occurred over the previous year is $275,573.78. The number of current listings in Melrose Park is 1, and the percentage of properties for sale in the city is 1.00%. Melrose Park, IL currently has 36 properties in foreclosure, 3 bank owned properties, 4 properties headed for auction, and 1 properties for sale.
Melrose Park, IL Real Estate Market Overview
Housing Market Summary for Melrose Park, IL
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $285K | $279.9K | -1.78% |
| Median Sold Price | $276.5K | $279.9K | 1.24% |
| Homes For Sale | 5 | 2 | -60.00% |
| Homes Sold | 141 | 140 | -0.71% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Melrose Park, IL
Browse Homes in Melrose Park, IL
Melrose Park home values range from $19,585 to $896,124. The median estimated value of a home in Melrose Park is $275,573.78. The median list price of a home is 314,900, and the total count of properties in the city is 6,153.
- Pre-ForeclosurePre-foreclosure homes account for 0.47% of all residential properties in Melrose Park, IL with 60164 containing 31 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 2 zips within Melrose Park, IL; of those zips, the estimated home value for pre-foreclosure homes ranges from $327,500 in 60160 to the lowest home value of $98,411 in 60164.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Melrose Park, IL ranges from the highest value of $402,499 in 60164 to the lowest value of $260,000 in 60160. Bank owned homes and properties account for 0.05% of properties in Melrose Park, IL. There are 2 zips within Melrose Park, IL; 60164 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions60164 has 5 auction properties, the highest number of properties going to auction in a single zip in the state of Melrose Park, IL. Auction homes and other auction properties account for 0.07% of all properties in Melrose Park, IL. There are 2 zips within Melrose Park, IL; of those zips, the median estimated home value for homes going to auction ranges from $300,635 in 60164 to the lowest value of $237,398 in 60164.
Compare Nearby Cities
More Real Estate Resources for Melrose Park, IL
Guide for Melrose Park, IL
A quick analysis of real estate trends in Chicago and its neighboring areas from November 2022 to December 2023.
Information on foreclosure financing, refinancing, and foreclosure mortgages.
Market report of Savannah, GA, a real estate market that has shown consistent growth, with the average property value reaching nearly $400,000.
Report of recent trends in Mobile, Alabama’s real estate market, highlighting rising property values, fluctuating sales volumes, and the variations in value and sales figures across neighboring areas as of March 2024.
