Is Melrose Park, IL 60160 a buyer’s or seller’s market?

The Melrose Park housing market right now

In the three months ending August 31, 2026, 44% of homes in Melrose Park, IL 60160 sold above their list price, the typical home went under contract in 56 days and there were 3.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 28 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 62%, homes sold faster (58 days then) and the median sale price rose 6% to $349,849. Overall, Melrose Park is less competitive than a year ago, which gives buyers more room.

Within Cook County, homes here sell more slowly than in 66% of the county’s ZIP codes, and sell less often over asking than in 54%. On our competition score, Melrose Park ranks #314 of 464 IL ZIP codes with enough sales (score 58 out of 100).

Nearby, buyers who want less competition could look at Thornton 60476 (14% sold over asking) or Chicago 60604 (17% sold over asking), while Golf 60029 (100% sold over asking) and Berkeley 60163 (75% sold over asking) are even more competitive.