Altos Market Data for Realtors

Melrose Park, IL

Single-Family Homes

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Melrose Park, IL

Wed Oct 20 2021
This week the median list price for Melrose Park, IL is $287,450 with the market action index hovering around 58. This is less than last month's market action index of 62. Inventory has decreased to 44. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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

Wed Oct 20 2021
This week the median list price for Melrose Park, IL is $287,450 with the market action index hovering around 58. This is less than last month's market action index of 62. Inventory has decreased to 44. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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 $287,450
Median Price of New Listings $299,999
Per Square Foot $179
Average Days on Market 64
Median Days on Market 28
Price Decreased 34%
Price Increased 2%
Relisted 18%
Inventory 44
Median Rent $1,495
Market Action 58
Strong Seller's Market

The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

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
$369,000 1,912 6,500 - 8,000 sqft 3 2 66 3 2 21
$307,000 1,918 6,500 - 8,000 sqft 3 2 68 2 2 21
$268,900 1,285 6,500 - 8,000 sqft 3 2 67 4 2 28
$227,770 1,371 0.25 - 0.5 acre 4 1 75 0 2 49