Melrose Park, IL Home Values & Market Trends
Real estate market trends reflect that there have been 200 transactions over the past year in Melrose Park. The median value for residential home transactions that occurred over the previous year is $341,299. The number of current listings in Melrose Park is 145, and the percentage of properties for sale in the city is 145.00%. Melrose Park, IL currently has 40 properties in foreclosure, 2 bank owned properties, 3 properties headed for auction, and 145 properties for sale.
Melrose Park, IL Real Estate Market Overview
Housing Market Summary for Melrose Park, IL
| Oct 2025 | October 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $325K | $334.9K | 3.06% |
| Median Sold Price | $322.6K | $315.7K | -2.13% |
| Homes For Sale | 139 | 145 | 4.32% |
| Homes Sold | 120 | 86 | -28.33% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Melrose Park, IL
Browse Homes in Melrose Park, IL
Melrose Park home values range from $161,219 to $566,810. The median estimated value of a home in Melrose Park is $341,299. The median list price of a home is 334,950, and the total count of properties in the city is 311.
- Pre-ForeclosurePre-foreclosure homes account for 11.25% of all residential properties in Melrose Park, IL with 60164 containing 38 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 2 zips within Melrose Park, IL; of those zips, the estimated home value for pre-foreclosure homes ranges from $426,621 in 60160 to the lowest home value of $197,148 in 60164.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Melrose Park, IL ranges from the highest value of $419,891 in 60160 to the lowest value of $253,102 in 60164. Bank owned homes and properties account for 0.64% of properties in Melrose Park, IL. There are 2 zips within Melrose Park, IL; 60160 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions60164 has 7 auction properties, the highest number of properties going to auction in a single zip in the state of Melrose Park, IL. Auction homes and other auction properties account for 0.96% of all properties in Melrose Park, IL. There are 2 zips within Melrose Park, IL; of those zips, the median estimated home value for homes going to auction ranges from $274,134 in 60160 to the lowest value of $134,683 in 60160.
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More Real Estate Resources for Melrose Park, IL
Guide for Melrose Park, IL
Foreclosure is a term that can sometimes lead to confusion for those looking to make a real estate investment. In simple terms, it refers to the process where a lender takes possession of a property after the owner fails to keep up with their mortgage payments. When it comes to land, this means that buyers […]
Descubre todo lo que necesitas saber sobre cómo comprar una casa en ejecución hipotecaria.
Learn how to buy a foreclosed home in Chicago, Illinois.
Tips to find a home in pre-foreclosure and get a good deal on a new home.
