Aurora Real Estate Market Conditions: August 2017 – Home Prices Continue To Increase

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Aurora Real Estate Market Update

The Aurora Real Estate Market continues to move up in August with both single family sales and condo/town homes sales price increasing. 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 market times and months’ supply continue to decrease putting sellers in an advantageous negotiating position yielding higher sales prices.

Aurora Home Sales

194 single family homes and 98 condo/town homes closed in August. Compare that to the 191 single family home closings at the same time last year and you’ll find a slight increase of about 2% in the number of single family homes sold. Condo and townhome sales in August increased by 2% from last year with 98 closings this year, compared to the 96 that sold at the same time last year.

Aurora real estate market condtions

Aurora Sales Price

During August 2017, there was a noted increase in median sales price for single family homes of 13% with a median sales price of $217,250 this year compared to $192,000 last year. Condo/townhomes saw their median sales price raise to $168,000 this year compared to $154,900 this time last year, or a 9% increase.

Aurora real estate market condtions
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 52 days at the end of August 2017, compared to 53 days on the market in August 2016 or a 2% decrease. Condo/townhome market times saw a decrease of 22% this August with 44 days on the market, compared to the 56 days we saw at this time last year.

Aurora real estate market condtions

Aurora New Listings

During August 2017, 195 single family homes were listed for sale in Aurora, compared to the 198 new listings last year, a decrease of 2%. New condo/town home listings have had a decrease by 6% with 104 new listings this August compared to the 110 last year at this time.

Aurora real estate market condtions
Aurora Months Supply

Aurora single family home inventory decreased significantly by 26% this August, dropping to 2.3 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 3.1 months. The months supply of condos/townhomes in Aurora is super low with only 1.5 months supply for sale, down 40% from last August when there were 2.5 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora real estate market condtions
#AuroraRealEstate #AuroraRealEstateMarket

Arif Molla

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