Waterfront living and recreation in the northern half of the Morse Reservoir attract residents and vacationers to Cicero, Indiana from nearby Indianapolis, say local Realtors.
"Cicero is located in Hamilton County, north of Indianapolis," says Realtor Janet Jernigan. "The average sales price in Cicero during the first quarter of 2004 was $125,447. The homes sold in an average of 82 days on the market with a 97 percent sales price/list price ratio. There are currently 99 homes for sale in Cicero ranging in price from $32,989 to $949,900. Interest rates have ticked up over the last few weeks, but they are still amazingly low. The market is always very strong in this area, making it a wonderful time to buy and/or sell a home."
Says Realtor Ken Fisher, "In Cicero and Hamilton County, the general real estate market is doing very well although showing signs of slowing. Comparing second quarter 2004 to second quarter 2003 in the MLS, average sales prices improved by 7.4 percent to $240,694 and units sold increased by 3.9 percent to 1,551 for the period. In the overall MLS 2004 year-to-date, average sales price has increased by 2.8 percent to $146,030. There have been 30,053 new listings (up 9.0 percent), 16,767 listings pended as sold (up 11.0 percent - 38 percent had their prices reduced before sale), 14,450 pending sales were closed (up 10.2 percent), 3,784 listings expired (up 6.7 percent) and 7,278 were withdrawn (up 14.5 percent) from the market and did not sell during the period."
Fisher explains, "The summer sales market is contracting somewhat typical to July activity but new property listings are continuing to increase. Numerous homes that have not sold have been re-listed as new listings to give it another try (and to confuse potential buyers and their agents with true days on the market). There are currently well over 14,000 homes for sale in the 12 county MIBOR service area. The really good news is that mortgage rates are holding at about 5.75 percent for now (contact your mortgage broker for details) but trending upward as the economy continues to improve. Listing prices are continuing to increase as agents compete for the listing business to build their inventories for the anticipated strong fall market."
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Published: September 1, 2004
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