Aurora Real Estate Market Update
The Aurora Real Estate slows in September. There was an decrease in home sales for both single family homes and condo/town homes sold in September 2018. In addition, a decrease in market times for single family homes makes the market perfect for sellers to capitalize. Sellers have begun to capitalize on these conditions with an increase in new listings for both single family homes and condo/town homes. Months supply remains critically low for both single family homes and condo/town homes continuing to be a marketplace for sellers.
Aurora Home Sales
127 single family homes and 56 condo/town homes closed in September. Compare that to the 136 single family home closings at the same time last year and you’ll find an decrease of about 7% in the number of single family homes sold. Condo and townhome sales in September took a dip from last year with 56 closings this year, or about a drop of 26%, compared to the 76 that sold at the same time last year.
Aurora Sales Price
During September 2018, there was a decrease in median sales price for single family homes of just over 5% with a median sales price of $193,000 this year compared to $202,250 last year. Condo/townhomes saw their median sales price slightly increase to $175,000 this year compared to $162,250 this time last year, or about a 8% increase.
Aurora Market Times
Market times for single family homes decreased and condos/townhomes in Aurora increased this year. Single family homes were on the market for 21 days at the end of September 2018, compared to 24 days on the market in September 2017 or a 13% decrease. Condo/townhome market times significantly increased this September with 22 days on the market, compared to the 13 days we saw at this time last year or a 9% jump.
Aurora New Listings
During September 2018, 207 single family homes were listed for sale in Aurora, compared to the 185 new listings last year, an increase of 12%. New condo/town home listings have had an increase of 31% with 103 new listings this September compared to the 79 last year at this time.
Aurora Months Supply
Aurora single family home inventory increased by 8% this September, jumping to 2.7 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.5 months. The months supply of condos/townhomes in Aurora is jumped to 2.2 months supply for sale, up 38% from last September when there were 1.6 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.