Aurora Real Estate Market Conditions – March 2019

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Aurora Real Estate Market Update

The Aurora Real Estate begins to show signs of life in March. The number of closed single family and condo/town homes increased by 12% and 23% respectively. The number of new listings for condo/town homes increased while months supply continued to decrease for single family homes which is a great sign for sellers.

Aurora Home Sales

131 single family homes and 70 condo/town homes closed in March. Compare that to the 117 single family home closings at the same time last year and you’ll find a large increase of 12% in the number of single family homes sold. Condo and townhome sales in March increased from last year with 70 closings this year, or about a jump of 23%, compared to the 57 that sold at the same time last year.

Aurora Real Estate Market Conditions - March 2019 closed sales

Aurora Sales Price

During March 2019, there was a decrease in median sales price for single family homes of 5% with a median sales price of $218,000 this year compared to $229,000 last year. Condo/townhomes saw their median sales price decrease to $172,250 this year compared to $186,000 this time last year, or about a 7% decrease.

Aurora Real Estate Market Conditions - March 2019 sales price

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 84 days at the end of March 2019, compared to 67 days on the market in March 2018 or a 25% increase. Condo/townhome market times increased this March with 58 days on the market, compared to the 38 days we saw at this time last year or about a 53% jump.

Aurora Real Estate Market Conditions - March 2019 market time

Aurora New Listings

During March 2019, 208 single family homes were listed for sale in Aurora, compared to the 222 new listings last year, a decrease of 6%. New condo/town home listings have had an increase of 13% with 107 new listings this March compared to the 95 last year at this time.

Aurora Real Estate Market Conditions - March 2019 new listings

Aurora Months Supply

Aurora single family home inventory decreased by 15% this March, falling to 1.7 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.0 months. The months supply of condos/townhomes in Aurora is jumped to 1.7 months supply for sale, up 42% from last March when there were 1.2 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.

Aurora Real Estate Market Conditions - March 2019 homes for sale

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Arif Molla

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