Introduction
Hey there! It's The Kombrink Team at One Source Realty, your local REALTORS® here in Aurora, Illinois. Today, we're excited to bring you the latest market update for February 2025. Whether you’re buying or selling, understanding the current trends can help you make the best decisions. Let’s dive into the numbers and see what’s happening in Aurora’s real estate market this month.
Aurora Real Estate Market Overview – February 2025
1. Current Housing Inventory
As of February 2025, Aurora has a 1 Months Supply of Inventory. This means that if no new homes were listed, the current supply would sell out in just one month. Over the last 12 months, we’ve seen a 23% increase in the Months Supply of Inventory, indicating a slight shift in market conditions.
2. Sold to List Price Ratio
The Sold to List Price percentage in Aurora is at an impressive 99.4%, showing that sellers are getting very close to their asking price. This is great news for homeowners considering selling their properties.
3. Median Days on Market
Homes in Aurora are selling quickly, with a median of just 13 days on the market. This suggests strong buyer demand and a fast-moving market, making it essential for buyers to act quickly when they find the right home.
4. Median Sold Price
The median sold price in Aurora is $287,000, reflecting the overall stability of home values in the area and providing a key indicator of the market’s health.
What This Means for Buyers and Sellers
For Buyers:
-
Act fast – With homes selling in just 13 days on average, waiting too long could mean missing out on your ideal home.
-
Expect competition – The high Sold to List Price percentage means buyers need to come prepared with strong offers.
-
Work with an experienced REALTOR® – Having expert guidance can make all the difference in securing the right home in a fast-paced market.
For Sellers:
-
Market conditions favor you – With homes selling quickly and near the asking price, now is a great time to sell.
-
Strategic pricing matters – While the market is competitive, setting the right price ensures maximum buyer interest.
-
First impressions count – A well-presented home can sell even faster and attract multiple offers.
Final Thoughts
Aurora’s real estate market remains strong and competitive. Whether you’re a buyer looking for the perfect home or a seller wanting to maximize your return, staying informed on market trends is key.
If you're thinking about making a move, now is a great time to explore your options. Feel free to reach out to The Kombrink Team at One Source Realty for personalized guidance and expert advice. We’re here to help you every step of the way.
Frequently Asked Questions (FAQs)
1. What does a 1 Months Supply of Inventory mean?
A 1-month supply means that, at the current sales pace, all available homes would sell in about a month if no new listings were added. This typically indicates a seller’s market.
2. Is Aurora a buyer’s or seller’s market right now?
Despite the slight increase in inventory, Aurora remains a competitive market where sellers have the advantage due to fast sales and strong Sold to List Price percentages.
3. How can buyers be more competitive in this market?
Buyers should get pre-approved for a mortgage, work with an experienced REALTOR®, and be ready to make a strong offer quickly.
4. What factors contribute to the Sold to List Price ratio?
Pricing strategy, market demand, home condition, and local economic factors all play a role in determining how close homes sell to their listing price.
5. Should I wait to buy or sell in Aurora?
Market conditions remain favorable for both buyers and sellers. If you’re considering making a move, consulting with a local real estate expert can help determine the best strategy for your situation.
Posted by The Kombrink Team on
Leave A Comment