The data today will be of all price ranges, single family home only, all property types (detached, attached, etc), all seller types (traditional, REO, short sale), all sq footage, and all bedrooms.
The average price of a home in Aurora sits at $317000. Although that is 4% more than last year, it looks like the market might be softening. In fact, the average price is less than last July.
Inventory for Aurora sits at 132 properties, about 10% more than the lowest point, which was last year at 120. Slowly moving up…
Average market time averages out at 25 days on market, pretty consistently low for the last few years. This seems to be holding steady.
Price per square foot (although not a great measurement of home values) has reached $204, a more than 7% increase over the previous year.
Showings per listing is how many times the average home must open it’s doors and let in viewers. For Aurora, it’s also moving downwards, now at approximately 11 total showings. This is 14% less than the previous year.
Housing supply for Aurora is only .9 months. That’s 12% more than last year, but last year was .8 months. This is incredibly low, and will keep prices elevated unless this needle starts to move much more. Until we see at least 5 months of supply, then we’ll still call this a seller’s market.
And finally, you can see that there are currently 1719 properties under contract in Aurora. In the best of markets and the worst of markets, there is, and will always be, housing transactions being completed. Maybe your’s is next?
That’s all for today. If you do or don’t like something about The Fox Valley Home Report, then please let me know. If I’m not including something that you think should, please tell me.
All data courtesy of InfoSparks. I am not a financial advisor, nor an attorney. Do not misconstrue any of this to be financial advice, and I recommend that you contact an advisor or an attorney if you have those types of questions.