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: