Real Estate Market Update for 60164 (Melrose Park, IL)

Video: Real Estate Community Tour for 60164 (Melrose Park, IL)

See Real estate community tour for 60164 (Melrose Park, IL)
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was down 23% from one year earlier, and down 16% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 190-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up more than 125%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 180-thousand dollars. The number of units sold increased 65% year-over-year, and increased 47% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 60164 (Melrose Park, IL)
Area Information for 60164 (Melrose Park, IL)
  • Population: 21,543
  • Median Age: 36.41 yr
  • Median Commute Time: 23 mins
  • Educational Climate*: 3
  • Sales Tax: 9%
  • Population Density: 4,545/sq mi
  • Population Change Since 2000: 1%
  • Closest Airport: Chicago O'hare International
  • Closest College: Elmhurst College
  • Closest Jr. College: Triton College
  • Median Household Income: $55,483
  • Annual Residential Turnover: 9%
  • Median Home Sales Price: $130,000
  • Closest Major Sports Team: Chicago Sky
  • Change Avg. Household Income Since 2000: 19.31%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 60164 (Melrose Park, IL)
Median Age: 36.41 Married: 40% Number of Households: 6,713 Households with Children: 2,558
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 60164 (Melrose Park, IL)

      School Name Distance Type Grades School Rating Parent Rating
      Roy Elementary School 0.1 mi Public K-5 2 0
      West Leyden High School 0.5 mi Public 9-12 2 3
      Whittier Elementary School 0.5 mi Public PRESCHOOL-5 1 0
      Parkview Baptist Academy 0.7 mi Private PRESCHOOL-12 0 0
      St John Vianney School 0.7 mi Catholic PRESCHOOL-8 0 0
      Mannheim Middle School 0.8 mi Public 6-8 2 0
      Westdale Elementary School 0.9 mi Public K-5 1 0
      Mannheim Early Childhood Center 0.9 mi Public PRESCHOOL-K 0 0
      J W Riley Elementary School 0.9 mi Public K-5 0 0
      Northlake Middle School 1.0 mi Public 6-8 2 0
      Scott Elementary School 1.2 mi Public K-5 1 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for 60164 (Melrose Park, IL)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.