Melrose Park Real Estate Statistics & Foreclosure Trends Summary

  • Median List Price
    $140,700
    3% ( $5,050 ) vs Oct 2013
  • Median Sales Price
    $135,000
    0% ( $0 ) vs Oct 2013
  • Median Foreclosure Sales Price
    $105,500
    19% ( $16,500 ) vs Oct 2013
  • Foreclosures 404
    Homes for Sale 51
    Recently Sold 409

Market Summary

There are currently 404 properties in Melrose Park, IL that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 51.

In November, the number of properties that received a foreclosure filing in Melrose Park, IL was 25% lower than the previous month and 25% lower than the same time last year.

Home sales for October 2014 were up 20% compared with the previous month, and up 15% compared with a year ago. The median sales price of a non-distressed home was $135,000. The median sales price of a foreclosure home was $105,500, or 22% lower than non-distressed home sales.

Sales Prices - Melrose Park, IL




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$105,500 (Median Foreclosure Sales Price) $89,000 (Median Foreclosure Sales Price) $94,500 (Median Foreclosure Sales Price) $90,000 (Median Foreclosure Sales Price) $105,000 (Median Foreclosure Sales Price) $94,000 (Median Foreclosure Sales Price) $135,000 (Median Sales Price) $135,000 (Median Sales Price) $130,000 (Median Sales Price) $129,500 (Median Sales Price) $130,500 (Median Sales Price) $129,500 (Median Sales Price) $105,500 (Median Foreclosure Sales Price) $89,000 (Median Foreclosure Sales Price) $94,500 (Median Foreclosure Sales Price) $90,000 (Median Foreclosure Sales Price) $105,000 (Median Foreclosure Sales Price) $94,000 (Median Foreclosure Sales Price) $135,000 (Median Sales Price) $135,000 (Median Sales Price) $130,000 (Median Sales Price) $129,500 (Median Sales Price) $130,500 (Median Sales Price) $129,500 (Median Sales Price)
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Nearby Cities

Metro Total Sales Median Sales Price Foreclosure Savings
Chicago
4,435
20.1
% (y-o-y)
$280,000
5.7
% (y-o-y)
62.5%
65.7
% (y-o-y)
Oak Park
103
39.2
% (y-o-y)
$320,000
3.4
% (y-o-y)
40.6%
64.1
% (y-o-y)
Elmwood Park
70
11.1
% (y-o-y)
$194,000
14.1
% (y-o-y)
21.6%
29.4
% (y-o-y)
Elmhurst
62
1.6
% (y-o-y)
$372,500
16.4
% (y-o-y)
28.8%
20.8
% (y-o-y)
Westchester
47
20.5
% (y-o-y)
$203,000
11.8
% (y-o-y)
Data not available
Bellwood
38
17.4
% (y-o-y)
$106,500
8.1
% (y-o-y)
44.6%
49.7
% (y-o-y)
Franklin Park
38
65.2
% (y-o-y)
$150,000
15.4
% (y-o-y)
23.0%
19.2
% (y-o-y)
Forest Park
34
0.0
% (y-o-y)
$141,000
19.4
% (y-o-y)
67.4%
42.0
% (y-o-y)
River Forest
29
52.6
% (y-o-y)
$487,000
8.2
% (y-o-y)
71.7%
20.0
% (y-o-y)
Maywood
28
3.7
% (y-o-y)
$75,000
11.1
% (y-o-y)
52.7%
47.4
% (y-o-y)

Local Info For Melrose Park

Population:
24,725
Cost of Living Index: 110.80
Crime Index: 79.94     Rating: B View crime details
Schools: 12    Average School Rating: C View individual school rating
Household Median Income: $43,478
Unemployment: 5.30%
Percentage of vacant homes: 10.92%