Aurora IL June 2018 Market Activity – Tight Inventory Continues

//Aurora IL June 2018 Market Activity – Tight Inventory Continues

Aurora IL June 2018 Market Activity – Tight Inventory Continues

The 4th of July is behind us and we are only 11 days away from the end of the month.  It’s been a busy month for me as buyers and sellers are keeping me out on the field instead of in front of my computer posting market activity reports.  With a short break before my next appointment here are June’s activity for my hometown – the “City of Lights” – Aurora, IL.

Aurora, IL had 194 closed transactions in the single family “detached” category in June.  Compared to June, 2017 which had 211 closings and June 2016 with 224 – the continued low inventory is apparent.  With the increase of home prices in surrounding communities Aurora with its diverse housing stock and more affordable prices are bringing more buyers to bid on all those “move in” ready homes and multiple offers and/or going under contract in a day or less is more the norm lately than anything else.

As of today – July 20, 2018* – we have the following available inventory in Aurora, IL –

Active – 220

New – 55

Price Changes – 34

Back on Market – 8

Total Available – 317

The “new” listings are encouraging.  As sellers find out what homes sold in their neighborhoods they are jumping off the fence and listing their home while the market is “hot”!  If you are ready to list your home give me a call and let’s get your home “market” ready and start getting offers today!

Currently there are 291 homes “under contract” and another 38 in “pending” status.  If you are not familiar with real estate terms _ Contingent = “under contract” and Pending = Ready to close with no contingencies usually in 30 days or less!  Traditionally homes “close” on the last business day of the month but that is tradition or custom but closings are held whenever the lender gives the buyer the “Clear to Close” which is usually 3 to 5 days before the closing day that is listed on the “contract”.

*available inventory changes on a daily, hourly basis

Evelyn Santiago
Managing Broker

About the Author:

Managing Broker/Owner of Heart Realty Group in Oswego, IL. With over 25 years of experience in residential real estate in Aurora, Montgomery, Oswego, Naperville and surrounding towns. I am passionate about helping my clients achieve their real estate goals. Besides real estate I love technology, a good book and the beach!

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