Sunday, August 31, 2014

Current real estate market in the Town of Cicero, IL

Today real estate appraiser Michael Walsh takes a look at the real estate market in the Town of Cicero using data from the MRED MLS and finds lots of activity in One-Unit Housing, this includes both attached and detached homes.

In the last 30 days there were 55 new listings for One-Unit homes, there were 31 closed sales and 47 listings went under contract.

In the last twelve months the median sales price for One-Unit Housing increased +26.2%, average marketing time declined -21.7% to 94 days on the market, and there is currently a 3.2 month supply of inventory. This level is considered in balance. REO & Short Sales account for approximately 59% of total sales.

Note: This increase in median price is due in part to appreciation and in part to more Fair Market sales than REO/Short Sales in prior years.

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