Despite the 17.7% drop in closed sales in October, 2021 to 153 from October, 2020's 186, there is good news for home sellers in Aurora, IL. The Days on Market (DOM) dropped a whopping 50% from October's 2020 46 days to only 23 days for single family homes. Sellers will like the 6.8% increase in the median sale price from$257,500 in October 2020 to $275,000 in October 2021.
Meanwhile with only 70 active listings currently broken down in the following categories:
New - 17
Reactivated - 2
Price Change - 4
Active - 47
Already in November we have 189 homes under contract and 17 pending.
With 89 homes that have closed in the 1st 15 days of November, I would not be surprised if an additional 100 homes sell in the next 15 days as the 45 day closings come in. In October 2021 there were 95 out of 153 homes that closed that sold for list or higher which is approximately 62%!
Buyers will continue to be forced into multi-offer situations which will more than likely increase the sold prices for those homes even more as inventory levels go even lower in the winter months.
If you are thinking of buying or selling before the spring season in 2022, give me a call and let's start the process earlier than normal so we can be prepared for whatever the market throws at us!
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