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MELROSE PARK, IL 60164

Real Estate Market Report  ·  Cook County
Seller's Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The MELROSE PARK, IL real estate market (60164) currently shows 32 active listings, with 21 pending sales. Homes are averaging 27 days on the market before going under contract.

Inventory has tightened compared to last year, with 4 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 27 days on market compared to 35 days last year.

The median listing price has fallen 2.9% year-over-year, from $320,000 to $310,750.

Whether you are buying or selling in MELROSE PARK, IL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 21,371  ·  Density: 1,679.9/mi²  ·  Median household income: $71,549

Typical home value: $227,733  ·  Homeownership: 73.0%

Market Overview

Active Listings
32
⇩ 11.1% vs 36 last year
Pending
21
66% pending ratio
Median Price
$310,750
⇩ 2.9% vs $320,000 last year
Average Price
$294,926
⇩ 4.3% vs $308,153 last year
Days on Market
27
⇩ 22.9% vs 35 days last year

Price Per Square Foot

Median $/sqft
$236
⇧ 11.8% vs $211/sqft last year
Median Home Size
1,342 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 32 this year vs 36 last year
  • Days on market: 27 now vs 35 last year

Median & Average Pricing

Year over Year
  • Median: $310,750 (-2.9% YoY)
  • Average: $294,926 (-4.3% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 5.7 miles — 557 listings ($223,490,157 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
60164Melrose Park, IL 601640.0 mi30$8,362,110$304,500$278,737
60131Franklin Park, IL 601311.7 mi29$10,983,286$358,650$378,734
60160Melrose Park, IL 601602.2 mi18$6,435,648$325,000$357,536
60104Bellwood, IL 601042.7 mi57$15,040,248$284,500$263,864
60176Schiller Park, IL 601763.3 mi24$7,441,392$300,000$310,058
60106Bensenville, IL 601063.7 mi17$6,252,209$367,217$367,777
60305River Forest, IL 603054.5 mi36$23,806,080$398,500$661,280
60154Westchester, IL 601544.7 mi36$14,018,616$388,850$389,406
60707Elmwood Park, IL 607074.8 mi80$26,320,240$247,975$329,003
60634Chicago, IL 606345.3 mi104$53,254,864$487,500$512,066
60130Forest Park, IL 601305.5 mi40$11,166,560$196,975$279,164
60656Chicago, IL 606565.5 mi31$12,674,164$333,475$408,844
60101Addison, IL 601015.7 mi55$27,734,740$447,488$504,268

Frequently Asked Questions

How many homes are for sale in MELROSE PARK, IL 60164?

As of March 2026, there are 32 active listings in MELROSE PARK, IL (zip code 60164), compared to 36 the prior year.

What is the median home price in MELROSE PARK, IL 60164?

The median listing price in MELROSE PARK, IL 60164 is $310,750 as of March 2026, a 2.9% decrease from $320,000 the prior year.

How long do homes stay on the market in MELROSE PARK, IL?

Homes in MELROSE PARK, IL 60164 spend an average of 27 days on the market before going under contract, compared to 35 days the prior year.

Is it a seller's or buyer's market in MELROSE PARK, IL 60164?

Based on current inventory and days-on-market data as of March 2026, MELROSE PARK, IL 60164 is currently a Seller's Market. Inventory has tightened compared to last year, with 4 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 27 days on market compared to 35 days last year.

How much can I save on real estate commission in MELROSE PARK, IL?

With SELL123.com's maximum 3% commission, sellers in MELROSE PARK, IL 60164 save an estimated $6,215 compared to a typical 5% commission on the median listing price of $310,750. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.