Aurora Real Estate Market Update
The Aurora Real Estate slowly raises in December. There was an increase in both sales price and new listings for single family and condo/townhomes. The number of closed properties have decreased this December compared to last year but market times for condo/townhomes saw a decrease. Overall there are positive signs at this time of year that will hopefully carry into the new year.
Aurora Home Sales
92 single family homes and 48 condo/town homes closed in December. Compare that to the 108 single family home closings at the same time last year and you’ll find an decrease of about 15% in the number of single family homes sold. Condo and townhome sales in December increased from last year with 48 closings this year, or about a slight jump of 2%, compared to the 47 that sold at the same time last year.
Aurora Sales Price
During December 2018, there was an increase in median sales price for single family homes of almost 10% with a median sales price of $196,500 this year compared to $179,000 last year. Condo/townhomes saw their median sales price also increase to $176,500 this year compared to $158,000 this time last year, or about a 12% decrease.
Aurora Market Times
Market times for single family homes increased where condos/townhomes in Aurora decreased this year. Single family homes were on the market for 44 days at the end of December 2018, compared to 34 days on the market in December 2017 or a 29% increase. Condo/townhome market times decreased this December with 23 days on the market, compared to the 28 days we saw at this time last year or about a 18% drop.
Aurora New Listings
During December 2018, 95 single family homes were listed for sale in Aurora, compared to the 85 new listings last year, an increase of 12%. New condo/town home listings have had a massive increase of 56% with 50 new listings this December compared to the 32 last year at this time.
Aurora Months Supply
Aurora single family home inventory increased by 21% this December, jumping 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 1.9 months. The months supply of condos/townhomes in Aurora is jumped to 1.8 months supply for sale, up 64% from last December when there were 1.1 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.