One of the most affordable cities in the Chicago Metro area - Aurora, IL 3rd Quarter results shows that the median price for single family detached homes has increased to 15.8% from 2014's prices. In 2014 the median price was $155,413 and the same period in 2015 its $179,900!
The average sales price increased 7.5% to $198,006 from 2014's $184,220. With only a drop of -1.3% drop in actual sales to 466 from 2014's 472 closed sales in the same time period.
As of 10/9/2015, there are 448 active listings, 47 "New" listings, i.e. (7 days or less, market time), 43 listings have "Price Changes" and 7 have been reactivated or are back on the market. This brings the total to 545 available homes for sale in the detached single family home category.
There are 220 homes under "contract with contingencies" and 51 that are current "Pending" which normally means they will close in the next 30 days. These figures are a strong indicator that Aurora's real estate market is getting stronger every month.
How long will the City of Lights - remain as one of the few "affordable" real estate markets in the Chicago metro area with price appreciation going up at this rate? Only continued strong job figures, and low interest rates will keep this momentum going through the rest of 2015.
Don't wait until it's too late to buy your next home! Call a trusted real estate agent today and start the process today!
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