Melrose Park Real Estate Statistics & Foreclosure Trends Summary

  • Median List Price
    $146,500
    0% ( $450 ) vs Jul 2013
  • Median Sales Price
    $129,000
    1% ( $1,500 ) vs Jul 2013
  • Median Foreclosure Sales Price
    $90,000
    14% ( $15,000 ) vs Jul 2013
  • Foreclosures 419
    Homes for Sale 81
    Recently Sold 417

Market Summary

There are currently 419 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 81.

In August, the number of properties that received a foreclosure filing in Melrose Park, IL was 16% lower than the previous month and 30% lower than the same time last year.

Home sales for July 2014 were up 44% compared with the previous month, and down 30% compared with a year ago. The median sales price of a non-distressed home was $129,000. The median sales price of a foreclosure home was $90,000, or 30% lower than non-distressed home sales.

Sales Prices - Melrose Park, IL




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$90,000 (Median Foreclosure Sales Price) $105,000 (Median Foreclosure Sales Price) $94,000 (Median Foreclosure Sales Price) $92,000 (Median Foreclosure Sales Price) $90,000 (Median Foreclosure Sales Price) $90,500 (Median Foreclosure Sales Price) $129,000 (Median Sales Price) $130,500 (Median Sales Price) $129,500 (Median Sales Price) $115,000 (Median Sales Price) $125,000 (Median Sales Price) $129,000 (Median Sales Price) $90,000 (Median Foreclosure Sales Price) $105,000 (Median Foreclosure Sales Price) $94,000 (Median Foreclosure Sales Price) $92,000 (Median Foreclosure Sales Price) $90,000 (Median Foreclosure Sales Price) $90,500 (Median Foreclosure Sales Price) $129,000 (Median Sales Price) $130,500 (Median Sales Price) $129,500 (Median Sales Price) $115,000 (Median Sales Price) $125,000 (Median Sales Price) $129,000 (Median Sales Price)
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Nearby Cities

Metro Total Sales Median Sales Price Foreclosure Savings
Chicago
2,412
56.8
% (y-o-y)
$290,000
5.5
% (y-o-y)
67.2%
69.8
% (y-o-y)
Oak Park
71
48.9
% (y-o-y)
$409,000
21.0
% (y-o-y)
47.4%
65.8
% (y-o-y)
Elmhurst
67
44.6
% (y-o-y)
$370,000
11.6
% (y-o-y)
33.8%
34.8
% (y-o-y)
Elmwood Park
40
60.8
% (y-o-y)
$198,000
21.1
% (y-o-y)
43.7%
26.6
% (y-o-y)
Hinsdale
40
36.5
% (y-o-y)
$675,000
22.0
% (y-o-y)
25.9%
7.5
% (y-o-y)
Franklin Park
25
43.2
% (y-o-y)
$160,000
12.1
% (y-o-y)
25.0%
19.4
% (y-o-y)
Westchester
24
64.2
% (y-o-y)
$200,000
7.2
% (y-o-y)
25.0%
27.6
% (y-o-y)
Forest Park
23
20.7
% (y-o-y)
$202,500
2.6
% (y-o-y)
79.3%
56.9
% (y-o-y)
Bensenville
19
47.2
% (y-o-y)
$180,000
4.3
% (y-o-y)
14.7%
36.5
% (y-o-y)
Schiller Park
17
22.7
% (y-o-y)
$144,500
10.0
% (y-o-y)
28.0%
37.7
% (y-o-y)

Local Info For Melrose Park

Population:
24,725
Cost of Living Index: 110.80
Crime Index: 119.10     Rating: B- View crime details
Schools: 12    Average School Rating: C View individual school rating
Household Median Income: $43,478
Unemployment: 5.90%
Percentage of vacant homes: 10.92%