Altos Market Data for Realtors

Melrose Park, IL

Single-Family Homes

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Melrose Park, IL

Sun Feb 09 2025
This week the median list price for Melrose Park, IL is $359,900 with the market action index hovering around 53. This is less than last month's market action index of 56. Inventory has decreased to 19. Click here to stay informed with the Melrose Park market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Melrose Park, IL

Sun Feb 09 2025
This week the median list price for Melrose Park, IL is $359,900 with the market action index hovering around 53. This is less than last month's market action index of 56. Inventory has decreased to 19. Click here to stay informed with the Melrose Park market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Melrose Park market.
Median List Price $359,900
Median Price of New Listings $349,450
Per Square Foot $213
Average Days on Market 57
Median Days on Market 42
Price Decreased 42%
Price Increased 0%
Relisted 0%
Inventory 19
Median Rent
Market Action 53
Strong Seller's Market

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$425,000 2,152 0.25 - 0.5 acre 3 2.8 72 1 1 24
$369,900 1,668 8,000 - 10,000 sqft 3 2 69 0 0 112
$354,000 1,682 8,000 - 10,000 sqft 3 2 69 0 1 63
$298,900 1,347 0.25 - 0.5 acre 3 1 76 1 1 42