Aurora Real Estate Market Update
The Aurora Real Estate slows in January. The number of closed single family homes decreased as well as the number of new listings. Market times for both single family homes and condos/townhomes increased as well as months supply. Positive signs were seen from the number of condo/town home closed sales increased as well as the sales price for single family homes.
Aurora Home Sales
72 single family homes and 43 condo/town homes closed in January. Compare that to the 80 single family home closings at the same time last year and you’ll find an decrease of 10% in the number of single family homes sold. Condo and townhome sales in January increased from last year with 43 closings this year, or about a slight jump of 13%, compared to the 38 that sold at the same time last year.
Aurora Sales Price
During January 2019, there was an increase in median sales price for single family homes of 9% with a median sales price of $189,850 this year compared to $173,850 last year. Condo/townhomes saw their median sales price decrease to $160,000 this year compared to $165,000 this time last year, or about a 3% decrease.
Aurora Market Times
Market times for single family homes and condos/townhomes in Aurora increased this year. Single family homes were on the market for 71 days at the end of January 2019, compared to 65 days on the market in January 2018 or a 9% increase. Condo/townhome market times increased this January with 55 days on the market, compared to the 39 days we saw at this time last year or about a 41% jump.
Aurora New Listings
During January 2019, 137 single family homes were listed for sale in Aurora, compared to the 156 new listings last year, a decrease of 12%. New condo/town home listings have had a increase of 17% with 63 new listings this January compared to the 54 last year at this time.
Aurora Months Supply
Aurora single family home inventory increased by 5% this January, jumping 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 1.9 months. The months supply of condos/townhomes in Aurora is jumped to 1.7 months supply for sale, up 55% from last January when there were 1.1 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.