Altos Market Data for Realtors

Melrose Park, IL 60160

Single-Family Homes

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Melrose Park, IL 60160

Mon May 20 2024
This week the median list price for Melrose Park, IL 60160 is $314,900 with the market action index hovering around 60. This is about the same as last month's market action index of 60. Inventory has increased to 9. 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 started cooling and prices have recently plateaued. 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 60160

Mon May 20 2024
This week the median list price for Melrose Park, IL 60160 is $314,900 with the market action index hovering around 60. This is about the same as last month's market action index of 60. Inventory has increased to 9. 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 started cooling and prices have recently plateaued. 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 $314,900
Median Price of New Listings $284,450
Per Square Foot $219
Average Days on Market 70
Median Days on Market 28
Price Decreased 22%
Price Increased 0%
Relisted 22%
Inventory 9
Median Rent
Market Action 60
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move 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
$439,700 2,161 4,500 - 6,500 sqft 4 2 34 0 0 80
$360,000 1,556 0 - 4,500 sqft 3 2.5 78 0 0 17
$306,950 1,430 4,500 - 6,500 sqft 3 2 69 1 0 112
$269,900 1,026 0 - 4,500 sqft 3 1 70 1 0 63