Aurora, IL which has been on several “Best Places” lists recently had 12.2% Price Appreciation in single family home sales in September, 2017 – the median price in Sept. 2016 was $180,000 and the new median is $202,000.
With a 32.6% drop in Days on Market, buyers are catching on that Aurora, IL diverse housing stock has something for everyone! Being Illinois’ 2nd city provides the “City of Lights” a big range of homes from the current low price of $72,500 for a foreclosed American Foursquare with 4 bedrooms, 2 baths and a full basement to its highest priced 5 bedroom, 5.1 bath with walkout basement and 4 car garage at aprx. 7,306 sq. ft on a .42 acre lot at a list price of $985,000 – buyers are able to find a home that fits their unique needs and price range.
There are currently 288 available homes which is only 1.7 months of inventory, a whopping 47.7% drop in inventory for September, 2016!
There were 137 closed transactions in September 2017 compared to 143 in September, 2016.
Currently there are 215 homes under contract and 25 homes in pending status. Of the 288 available homes, 22 were brand new listings and only 25 had price changes. With only 7 homes under $100,000 affordability will become an issue for many issues even in Aurora, IL, which historically has been one of the more affordable cities to live in inside the Chicago metro area.
Don’t hesitate if you are a buyer! Look for a home during the final quarter of 2017 and see how quickly you can build home equity in it!