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Thursday, November 14, 2019

Melrose Park home prices rise in March 2017

Real Estate

By West Cook News | Apr 7, 2017

Realestate1

The median sale price of a home sold in March 2017 in Melrose Park rose by $16,000 while total sales increased by 66.7%, according to BlockShopper.com.

In March 2017, there were 30 homes sold, with a median sale price of $173,500 - a 10.2% increase over the $157,500 median sale price for the same period of the previous year. There were 18 homes sold in Melrose Park in March 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 2.8%.

The following table compares Melrose Park to other Cook County cities with similar median sales prices in March 2017:

City
Mar. 2017 Home Sales
Mar. 2016 Home Sales
% change (Total Home Sales)
Mar. 2017 Median Sales Price
Mar. 2016 Median Sales Price
% change (Median Sales Price)
Streamwood
55
47
17%
$184,000
$165,000
11.5%
Indian Head Park
8
10
-20%
$181,500
$207,000
-12.3%
Des Plaines
86
69
24.6%
$179,000
$200,000
-10.5%
Palatine
109
78
39.7%
$175,000
$215,000
-18.6%
Wheeling
41
41
0%
$174,000
$139,500
24.7%
Melrose Park
30
18
66.7%
$173,500
$157,500
10.2%
Tinley Park
84
59
42.4%
$171,750
$185,000
-7.2%
Hanover Park
20
10
100%
$167,250
$137,500
21.6%
Roselle
3
5
-40%
$167,000
$154,000
8.4%
Elgin
34
21
61.9%
$157,500
$148,000
6.4%
Berkeley
7
11
-36.4%
$155,000
$90,000
72.2%

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