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Foreclosure Homes in Melrose Park, IL 60160

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Melrose Park, IL Foreclosures

Current Market Conditions in in Melrose Park, IL As of April 2026?
In the past month, the Melrose Park real estate market has seen a slight uptick in home prices, averaging a 2% increase from the previous month. This increase is attributed to a surge in buyer activity, as more people are looking to capitalize on the remaining opportunities within the market. The homes that are well-priced continue to draw competitive offers, which is leading to faster sales times for sellers.
How much do homes sell for in Melrose Park, IL?
The average home price is currently $380,324.
In Melrose Park, IL, how many homes are available?
There are currently 116 active home listings available in Melrose Park.
What’s the average rental cost in Melrose Park, IL?
The average rental price in Melrose Park is $1,682.
What is the most expensive home in Melrose Park?
The most expensive home sold in Melrose Park had a price of $62,601,620.
What is currently the cheapest priced home in Melrose Park, IL?
The cheapest home for sale in Melrose Park is priced at $10,004.

Living in Melrose Park, IL

Melrose Park is a charming suburban community in Illinois, offering residents a mix of suburban tranquility and urban conveniences. Its rich cultural diversity can be experienced in its numerous dining and shopping options. With plenty of parks and close proximity to the city, it's an ideal location for families and individuals.

Buyer vs Seller Market in Melrose Park, IL

The real estate market in Melrose Park is currently experiencing steady growth, with a noticeable increase in home values over the past year. The demand for housing remains strong, driven primarily by first-time buyers and investors attracted to the area’s affordability compared to neighboring communities. Homes are selling relatively quickly due to low inventory and strong buyer interest.

Home Value Estimator For Melrose Park, IL

There are currently 8,350 real estate properties in Melrose Park, IL, with a median automated valuation model (AVM) price of $310,185.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Melrose Park, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Melrose Park, IL, is $380,324.00, with the most expensive house in Melrose Park, IL, topping out at $62,601,620.00 and the cheapest home in Melrose Park, IL, clocking in at $10,004.00. In other words, there’s something for every potential homebuyer or savvy investor in Melrose Park, IL!

Rent Prices In Melrose Park, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Melrose Park, IL, is on a rollercoaster ride. The average rent price in Melrose Park, IL, is $1,682.00. Indeed, when looking to rent in Melrose Park, IL, you can expect to pay as little as $730.00 or as much as $2,820.00, with the average rent median estimated to be $1,690.00. The good news is that finding an affordable and desirable property to rent in Melrose Park, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Melrose Park, IL 60160 Foreclosures

Market Trend for Melrose Park, IL

Total Listings Available: 116

Market Values:

Home Prices from $10,004 to $62,601,620

Average Sales Price: $380,324

Rental Values:

Rental from $730 to $2,820

Average Rent Value: $1,682 / month

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