Aurora, Colorado: Real Estate Market Report March 2024

Analyzing Aurora’s Real Estate Market Trends

The real estate market in Aurora, CO has experienced some interesting shifts over the recent months, according to our analysis of the latest figures. The beginning of the year saw a minor dip in average property values, with prices falling marginally from around $460,000 in February 2024 to nearly $457,000 in January. This decline became more pronounced by the end of 2023 when average values reached around $452,000. A significant plummet occurred between September 2023 and October 2023, when valuations tumbled from $500,000 to approximately $485,000. Despite these fluctuations, the price per square foot has shown relative stability, maintaining in the high $200s to low $300s range.

Comparisons with nearby cities reveal insights about Aurora’s market position. Denver and Englewood consistently command higher average sale prices and price per square foot. With Denver presenting an average value of $550,000 and a square foot value of $378 in February 2024, it stands as a pricier option. Englewood, too, surpasses Aurora with an average value of $573,000 and an impressively high price per square foot at $446. Parker suggests a blend of higher average values, touching $635,000, coupled with a significant increase in per square foot cost from March 2023, closing at $318 in February 2024.

Present-Day Real Estate Snapshot

As of February 2024, Aurora’s average value sits at roughly $460,000, with a per square foot value of $255. Out of 75 properties listed, the average sale price chalks up to be about $469,000, with the average sale price per square foot edging closer to $299. A considerable number of properties—3,393 to be exact—have been sold, hinting at a lively market.

Moving on to Denver, we see an average property value figure that overshadows Aurora at $550,000 and a robust per square foot value of $378. With an average sale price nearing $528,000 and a sizeable average sold per square foot figure of $424, these metrics reflect a market of premium tastes and values. The city sees a bustling volume as well with 6,724 properties sold.

Englewood, despite its small count of 8 properties, boasts an average value of roughly $573,000 and a remarkable per square foot value of $304. The average sale price leaps even higher to around $590,000, and a substantial sale price per square foot of $446 is recorded, illustrating its appeal to a higher-end clientele.

In the context of Parker, the numbers are compelling. With an average value striking $635,000 and a per square foot benchmark of $251, its luxury positioning is apparent. Its average sale price spikes up to $664,000, with the sold square foot value stabilizing at $318, over a total of 1,252 sold properties.

A glance at Commerce City presents an average value close to Aurora at about $458,000 and a more modest per square foot value of $221. The average sale price stands at approximately $468,000, with the sold per square foot figure at $284, coming from a collective sale of 546 properties.

Lastly, Bennett shows an outlier average value of a staggering $825,000 with a per square foot value of $247. It, however, records a lower average sale price of around $440,000 but with an equitable per square foot value of $319, albeit from a smaller sales volume of just 95 properties.

To conclude, our analysis shows a mixed bag of data indicative of market shifts in Aurora and its neighboring cities. It portrays a nuanced picture where certain sectors reflect strength and resilience, while others hint at market corrections. The data also underscores the relative affordability of Aurora compared to its more expensive counterparts, although this comes with its own volume of sales that signify a consistently active market.