Aurora IL Real Estate Market Conditions condos & townhomes zip 60503

Median Price for homes in AURORA, IL 60503 as of September 23, 2011 is $145,000	Total Inventory for homes in AURORA, IL 60503 as of September 23, 2011 is 93
Average Days on Market for homes in AURORA, IL 60503 as of September 23, 2011 is 207	Median MAI for homes in AURORA, IL 60503 as of September 23, 2011 is 12.49

Aurora, IL Real Estate Market Conditions: Condos and Townhomes, zip 60504

Median Price for homes in AURORA, IL 60504 as of December 10, 2010 is $129,650	Inventory for homes in AURORA, IL 60504 as of December 10, 2010 is 148
Average Days on Market for homes in AURORA, IL 60504 as of December 10, 2010 is 185	Median MAI for homes in AURORA, IL 60504 as of December 10, 2010 is 33.26

Aurora, IL Real Estate Market Conditions: Condos and Townhomes, zip 60502

Median Price for homes in AURORA, IL 60502 as of January 7, 2011 is $175,000	Inventory for homes in AURORA, IL 60502 as of January 7, 2011 is 95
Average Days on Market for homes in AURORA, IL 60502 as of January 7, 2011 is 225	Median MAI for homes in AURORA, IL 60502 as of January 7, 2011 is 13.01

Aurora Condo and Townhome market report

New this month – Market Report on Condos and Townhomes in Aurora. This will be following the same format as the monthly single family homes report but will focus on this segment of the market. Industry news in recent weeks has included the expansion and extension of the Home Buyer’s Tax Credit. Essentially, the program for first time buyers requires a contract date no later than April 30, 2010 and a close date no later than June 30, 2010. The amount is 10% or a maximum of $8,000. Income limits have been adjusted upward so more people may be eligible. Existing homeowners (not just upgraders) who have owned and lived in their home for five consecutive of the last eight years may be eligible for up to $6,500. This chart has a good summarization of the changes. And for a Frequently Asked Questions or FAQ, go here.

Data comparisons* are made for the current 12 week period vs the previous 12 weeks.

Homes Under Contract, 13 vs 10, or an increase of 30%. This upward trend has been steadily continuing over the last several months and continues into the fall months. Homes Sold remained steady – 11 vs 11. They have been at this level on a continuous basis since early June, 2009, indicating a relatively stable market.

Continuing a trend that  started in July, Homes For Sale decreased 9% from 610 to 558. This continued reduction in inventory bodes well for stabilization in pricing and competition in the marketplace.

Median Price for Homes Sold in October 09 is down less that 1% from $152,167 to $151,288 – an insignificant change. The median for Homes Under Contract however, dropped from $162,575 to $150,896 – a decrease of 7.2%. Median List Price dropped 2.5% from $162,262 to $158,171. All three pricing metrics have been gradually declining over the past 6 months.

Condos and Townhomes in Aurora, IL

These stats are also available on an individual zip code basis. Contact me to take a closer look at your particular area. Or request your own customized report and it will be emailed promptly.

Congestion relief for Eola at I88 in Aurora

It is finally here, Aurora! The new, all electronic interchange at Eola Rd and I88 will open tonight, November 20th, 2009 and get this – it is reported to have come in on time and $14 million under budget! The following is excerpted from the Illinois Tollway press release issued earlier today:

DOWNERS GROVE, Ill. – Illinois Tollway, DuPage County and City of Aurora officials celebrated the completion of a new, full-access Interchange featuring all-electronic tolling at Eola Road and the Reagan Memorial Tollway (I-88) to help reduce congestion on the local road network in Aurora and Naperville. DuPage County Board Chairman Robert Schillerstrom, Aurora Mayor Tom Weisner, and Naperville Mayor George Pradel commended the Illinois Tollway for bringing the project in on schedule and under budget by $14 million. The new interchange is scheduled to open overnight tonight, November 20, and is part of the Illinois Tollway’s $6.3 billion Congestion-Relief Program.

The new interchange includes four ramps providing access for Eola Road traffic to and from the Tollway via Bilter Road on the north side of I-88 and Diehl Road on the south side of I-88, and will serve daily commuters from Aurora and Naperville as well as commercial truck traffic….

The interchange layout provides on and off access and exits in both directions and accepts IPass/electronic toll collection only! If you need to use cash, use the ramps at Farnsworth Ave, just west of Eola Road. Of interest to locals is the question ‘How will Eola Rd hold up and what will traffic be like now?’ With the addition of this ramp (greatly needed, in my humble opinion) and the opening of Metea Valley High School earlier this fall, we can expect to see a sharp increase in the number of vehicles on Eola.

Aurora – Local market trends

Just how “hyper-local” is the Aurora* real estate market?  As I have been watching the statistics over the past several months it has become apparent that it is very local. Many of you receive my free monthly reports from Altos Research that show the trends in your particular zip code. And some numbers are up and some are down. What is interesting is how they vary by zip code in Aurora. The chart below reflects the trend in Median Price, by zip, over the past 12 months for single family homes:

As you can see, over the past 12 months, Median Prices have been relatively flat with a slight decline – an improvement over the previous 12 months that saw sharper declines. If you are interested in seeing how this drills down to the subdivision level, drop me an email or give me a call and let me know what area you want to view.  And as always, you can request your free reports here.

Condos and town homes in these zip codes show a sharper downward trend, down in the range of 8-11% over the same time period:

If you are interested in seeing how this drills down to the developement or association level, drop me an email or give me a call and let me know what area you want to view.  And as always, you can request your free reports here.

Aurora Electronics Recycling & Community Shred Event – beat identity theft

On Saturday November 14, 2009 from 8:00 am -10:45 am the City of Aurora and Shred-it are hosting an on site Community Shred Event. The event will be held at Metea Valley High School, 1801 North Eola Rd, Aurora, IL 60502. Bring all documents and they will be destroyed on-site. There is a limit of 5 standard Bankers Boxes. Visit www.shred-it.com for additional information.

For the electronics recycling the following materials are acceptable:

Computers and Peripherals: CPU’s laptops, monitors, flat panels, keyboards, mice, cable, printers, plotters, external hard drives, tape drives, network hardware (i.e. servers, routers,hubs), communication hardware, and sub-assemblies of the above.

Data Center Equipment: Power Distribution Units (PDU’s) Uninterrupted Power Supplies (UPS Systems), Motor Generator sets (MG sets), chillers.

Office and Telecommunications Equipment: Copiers, fax machines, phone systems, cell phones, hand-held devices, projection equipment, audio equipment, video equipment, TV’s calculators, security equipment, microwaves.

A similar event was held at the old Lucent facility on Warrenville Rd earlier this summer and the turnout (turn in?) was fantastic. I unloaded a car-full of electronics.