Aurora Real Estate Market Update
The Aurora Real Estate begins to show signs of life in April. The number of closed single family and condo/town homes increased. Months supply continue to be low indicating a market favorable to sellers. Single family sales price as well as new listings increased this April.
Aurora Home Sales
143 single family homes and 75 condo/town homes closed in April. Compare that to the 143 single family home closings at the same time last year and you’ll find a slight increase of 2% in the number of single family homes sold. Condo and townhome sales in April increased from last year with 75 closings this year, or about a jump of 23%, compared to the 61 that sold at the same time last year.
Aurora Sales Price
During April 2019, there was an increase in median sales price for single family homes of 8% with a median sales price of $237,500 this year compared to $22,000 last year. Condo/townhomes saw their median sales price decrease to $178,500 this year compared to $185,000 this time last year, or about a 4% 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 70 days at the end of April 2019, compared to 44 days on the market in April 2018 or a595% increase. Condo/townhome market times increased this April with 60 days on the market, compared to the 38 days we saw at this time last year or about a 58% jump.
Aurora New Listings
During April 2019, 269 single family homes were listed for sale in Aurora, compared to the 260 new listings last year, an increase of 3%. New condo/town home listings have had a decrease of 20% with 102 new listings this April compared to the 128 last year at this time.
Aurora Months Supply
Aurora single family home inventory increased by 5% this April, rising to 2.2 months supply of homes for sale. The months supply of Aurora single family homes for sale at the same time last year was 2.1 months. The months supply of condos/townhomes in Aurora is jumped to 1.9 months supply for sale, up 27% from last April when there were 1.5 months of supply. Anything under a 5 months supply is considered favorable conditions for sellers.