Altos Market Data for Realtors

Melrose Park, IL

Single-Family Homes

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Melrose Park, IL

Fri Jun 21 2024
This week the median list price for Melrose Park, IL is $345,000 with the market action index hovering around 68. This is less than last month's market action index of 72. Inventory has increased 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 appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Melrose Park, IL

Fri Jun 21 2024
This week the median list price for Melrose Park, IL is $345,000 with the market action index hovering around 68. This is less than last month's market action index of 72. Inventory has increased 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 appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Melrose Park market.
Median List Price $345,000
Median Price of New Listings $259,900
Per Square Foot $211
Average Days on Market 48
Median Days on Market 42
Price Decreased 47%
Price Increased 11%
Relisted 47%
Inventory 19
Median Rent
Market Action 68
Strong Seller's Market

While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.

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
$529,450 2,696 - 4 3 0 0 0 87
$439,500 1,996 0 - 4,500 sqft 3 2.5 59 1 1 14
$339,999 1,553 0 - 4,500 sqft 3 2 68 1 2 56
$259,900 1,065 0 - 4,500 sqft 3 1 76 3 3 21