Altos Market Data for Realtors

Melrose Park, IL 60160

Single-Family Homes

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Melrose Park, IL 60160

Wed Oct 09 2024
This week the median list price for Melrose Park, IL 60160 is $222,450 with the market action index hovering around 63. This is an increase over last month's market action index of 58. Inventory has held steady at or around 4. 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

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Melrose Park, IL 60160

Wed Oct 09 2024
This week the median list price for Melrose Park, IL 60160 is $222,450 with the market action index hovering around 63. This is an increase over last month's market action index of 58. Inventory has held steady at or around 4. 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

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Melrose Park market.
Median List Price $222,450
Median Price of New Listings $265,000
Per Square Foot $217
Average Days on Market 18
Median Days on Market 11
Price Decreased 25%
Price Increased 25%
Relisted 25%
Inventory 4
Median Rent
Market Action 63
Strong Seller's Market

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
$289,700 1,500 - 3 1.5 NaN 0 1 14
$265,000 850 4,500 - 6,500 sqft 2 1 101 1 0 0
$179,900 900 0 - 4,500 sqft 3 2 115 0 0 49
$145,000 613 0 - 4,500 sqft 2 1 130 0 0 7