From January through December of 2017, there were 304 homes sold, with a median sale price of $180,000 - a 9.1% increase over the $165,000 median sale price for the previous year. There were 272 homes sold in Melrose Park in 2016.
The median sales tax in Melrose Park for 2017 was $4,858. In 2016, the median sales tax was $4,578. This marks an increase of 6.1%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.7%.
The following table compares Melrose Park to other Cook County cities with similar median sales prices in 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Franklin Park | 285 | 259 | 10% | $185,000 | $173,000 | 6.9% |
| Tinley Park | 1,011 | 956 | 5.8% | $185,000 | $178,000 | 3.9% |
| Berkeley | 81 | 78 | 3.8% | $183,000 | $150,000 | 22% |
| Streamwood | 810 | 774 | 4.7% | $183,000 | $166,000 | 10.2% |
| Elmhurst | 8 | 5 | 60% | $180,750 | $170,000 | 6.3% |
| Melrose Park | 304 | 272 | 11.8% | $180,000 | $165,000 | 9.1% |
| Hanover Park | 293 | 276 | 6.2% | $180,000 | $177,500 | 1.4% |
| Wheeling | 552 | 489 | 12.9% | $178,000 | $168,000 | 6% |
| Burbank | 390 | 362 | 7.7% | $178,000 | $170,000 | 4.7% |
| Bridgeview | 160 | 158 | 1.3% | $173,500 | $161,000 | 7.8% |
| Bedford Park | 14 | 6 | 133.3% | $173,000 | $109,500 | 58% |
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