A little about living in Aurora
Aurora really is a terrific city to live in, and may be one of the most diverse cities in the area – economically and socially. The home prices in Aurora range from under $100-thousand to over $1 million and can be purchased in new master planned communities and in historic communities alike.
With approximately 160,000 residents, Aurora is the second largest city in Illinois and is somehow able to maintain the feel of a town only a fraction its population.
Real Estate in Aurora
According to the local MLS—January07/January08. Fewer homes were introduced to the market for sale in January 2008 (429) over last year (529), while fewer homes under contract in went down 34% from a year ago.
In recent weeks, consumers appear to be reacting to the continued low 30-year mortgage rates. Lenders are reporting higher numbers of pre-approvals, and sellers are seeing a much needed boost in showings.
The median sale price of a single family home in January 2007 was $191,838 while in January 2008 was $179,450—a decrease of 6.46%.
In Jaunuary 2007 138 single family homes were sold in Aurora, where only 104 homes were sold in January 2008, a decrease in sales of over –24% in one year.
To receive a FREE Over-the-net Market Analysis of your Aurora area home, visit FreeAuroraHomeValues.Com
Mortgage Rates
Interest rates are remaining near all time lows at 5.75%. With low rates and higher than normal residual inventory, buyers are getting the message that the time to buy is now.
Additional real estate buying and selling tips & tricks as well as local school reports are available at http://www.yourwisemove.com . Please stop in frequently for market updates and plenty of great real estate information sure to help in your next move.
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