What have home prices been doing in North Aurora this year?
Median home prices in North Aurora IL have remained stable since last summer. We’re currently seeing a median list price of $265,000. The chart below is a good comparison of median list prices vs. median sales prices in North Aurora IL for the last 12 months. As you can see home buyers and sellers have been fairly aligned all year.
Are home prices in North Aurora IL going up or down?
Home prices in North Aurora jumped 38.2% in February compared to January. The median sales price right now is $216,000. Comparing this year-over-year we see a 2.9% increase. North Aurora homes are certainly appreciating and the trend is expected to continue.
Is North Aurora in a buyers or sellers market right now?
If you’ve been on the fence about selling your home, now is a great time! Inventory of homes for sale in North Aurora is low at 3.8 months. Anything between 3-6 months could be considered a stable market so we’re right at the low end of that. Inventory below 3 months puts us in a sellers market where prices can rise and market times fall. Over 6 months and a buyers market takes over resulting in lower prices and longer market times.
What types of homes are for sale in North Aurora right now?
A lot of North Aurora homeowners may be concerned about foreclosures and short sales dragging down the market. Actually, we’ve seen the numbers of bank-owned and distressed properties fall in North Aurora. In February, 87% of homes for sale were traditional sales. There were 6 foreclosures on the market, which is the lowest since 2008. Short sales are on the decline as well with 7. Home prices in North Aurora IL are not being affected by these factors.
How long is it taking to sell a home in North Aurora right now?
The median market time for a home in North Aurora is at 49 days. This is down slightly from fall of 2016. This could indicate a strong buyer pool still in the market.
Want a rough idea of your home’s current value?
Fill out the form below to view an online analysis of your North Aurora IL home price. While not as accurate as meeting with us in person, it can help you determine if selling your North Aurora home makes sense right now.
Looking for something more accurate?
The Kombrink Lobrillo Team at RE/MAX All Pro takes a very analytical approach to pricing your home. Using a process similar to that of an actual home appraiser, our in-depth analysis produces a pricing strategy to get your home sold for top dollar in the least amount of time. Combine that with our top notch marketing strategy and we’ll help you realize your real estate goals before you know it.
Contact our North Aurora Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home. Matt can be reached at 630-488-3300.