Aurora Real Estate Market Conditions: February 2017

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Aurora Real Estate Market Update

The Aurora Real Estate Market remains slow in February with both single family sales and condo/town homes sales decreasing. Limited supply has helped an increase in median sales price for both single family and condo/town homes. It is a great time for sellers, as they are able to capitalize on limited supply driving market times down and raising sales price.

Aurora Home Sales

290 single family homes and 93 condo/town homes closed in February. Compare that to the 454 single family home closings at the same time last year and you’ll find a decrease of 36% in the number of single family homes sold. Condo and townhome sales in February also decreased by 41% from last year with 93 closings this year, compared to the 158 that sold at the same time last year.

Aurora Real Estate Market homes for sale

Aurora Sales Price

During February 2017, there was a noted increase in median sales price for single family homes of 29% with a median sales price of $189,950 this year compared to $147,500 last year. Condo/townhomes saw their median sales price raise to $172,250 this year compared to $131,500 this time last year, or a 12% increase.

Aurora Real Estate Market median sales price

Aurora Market Times

Market times for both single family homes and condos/townhomes in Aurora decreased this year. Single family homes were on the market for 84 days at the end of February 2017, compared to 135 days on the market in February 2016 or nearly a 38% decrease. Condo/townhome market times saw a significant increase of 54% this February with 129 days on the market, compared to the 84 days we saw at this time last year.

Aurora Real Estate Market average market time

Aurora New Listings

During February 2017, 188 single family homes were listed for sale in Aurora, compared to the 178 new listings last year, a small increase of 6%. New condo/town home listings have had a decrease by 8% with 76 new listings this February compared to the 83 last year at this time.

Aurora Real Estate Market new listings

Aurora Months Supply

Aurora single family home inventory decreased significantly by 38% this February, dropping to 2.0 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 3.2 months. The months supply of condos/townhomes in Aurora is super low with only 1.3 months supply for sale, down 48% from last February when there were 2.5 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate Market months supply

#AuroraRealEstate #AuroraRealEstateMarket

Arif Molla

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