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Friday, November 22, 2024

Cicero home prices rise in the first quarter of 2017

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The median sale price of a home sold in the first quarter of 2017 in Cicero rose by $13,000 while total sales increased by 7.8%, according to BlockShopper.com.

From January through March of 2017, there were 165 homes sold, with a median sale price of $148,000 - a 9.6% increase over the $135,000 median sale price for the same period of the previous year. There were 153 homes sold in Cicero in the first quarter of 2016.

The median sales tax in Cicero for 2017 was $4,393.41. In 2016, the median sales tax was $3,888.90. This marks an increase of 13%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 3%.

The following table compares Cicero to other Cook County cities with similar median sales prices in the first quarter of 2017:

CityJan. - Mar. 2017 Home SalesJan. - Mar. 2016 Home Sales% change (Total Home Sales)Jan. - Mar. 2017 Median Sales PriceJan. - Mar. 2016 Median Sales Price% change (Median Sales Price)
Oak Forest9295-3.2%$153,250$155,000-1.1%
Franklin Park59549.3%$150,000$155,750-3.7%
Elgin877122.5%$150,000$146,0002.7%
Berkeley1621-23.8%$149,500$120,50024.1%
Justice1626-38.5%$149,250$143,0004.4%
Cicero1651537.8%$148,000$135,0009.6%
Palos Hills5557-3.5%$147,000$145,0001.4%
Broadview2839-28.2%$145,000$120,00020.8%
Merrionette Park5425%$145,000$88,00064.8%
Forest View21100%$141,500$159,000-11%
Lynwood2829-3.4%$137,000$123,00011.4%

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