Being 2nd has not hurt Aurora, IL with accolades for placing 21 out of 182 cities by Wallethub as one of the happiest cities in the nation. Home sellers that sold in February 2022, are even happier! There were 92 sold homes in February compared to 88 in 2021 which was an increase of 4.6%. They saw a 12.2% median price appreciation to $260,000 from 2021's $231,666. Average days on market dropped 35.3% from 51 days in February 2021 to 33 days in 20222.
Current inventory for single family detached homes is at 44* homes available with 18 of these brand new listings in the last 7 days. We have 4 reactivated listings, 1 price change with the remaining 21 ready for new buyers.
Under contract listings are at 152 with pending listings at 13. Already we have had 58 closings in March as of 3/21/22. We only need an additional 34 to match February's numbers but with all the contingent listings it appears that we will be beating that number easily.
Aurora's continued affordability compared to some of its nearest neighbors such as Naperville with a $572,5000 median sale price in February, or Elgin's $305K, Oswego's $385,548, or even Batavia's $324,500 you have to go to even smaller towns to find lower home affordability. Joliet has a lower price point at $220K, as well as Montgomery with a $255K price point.
With Aurora's continued redevelopment going strong in the downtown area and so many new housing projects being announced, IL's 2nd city will continue to lead in affordability and in being a happy place to live in!
*As of 3/22/22 @1:30 p.m.
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