Altos Market Data for Realtors

Melrose Park, IL

Single-Family Homes

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Melrose Park, IL

Sat Sep 30 2023
This week the median list price for Melrose Park, IL is $304,500 with the market action index hovering around 74. This is about the same as last month's market action index of 74. Inventory has increased to 24. 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

Sat Sep 30 2023
This week the median list price for Melrose Park, IL is $304,500 with the market action index hovering around 74. This is about the same as last month's market action index of 74. Inventory has increased to 24. 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 $304,500
Median Price of New Listings $320,000
Per Square Foot $202
Average Days on Market 37
Median Days on Market 18
Price Decreased 42%
Price Increased 0%
Relisted 13%
Inventory 24
Median Rent
Market Action 74
Strong Seller's Market

The market is 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
$414,450 2,301 6,500 - 8,000 sqft 4 2 68 2 2 21
$339,500 1,450 4,500 - 6,500 sqft 3 2 71 2 1 24
$284,950 1,500 4,500 - 6,500 sqft 3 2 81 2 2 7
$229,950 1,136 0.25 - 0.5 acre 2 1 73 2 0 28