A wide spectrum of housing choices
Residental Home Sales
Top homebuilders are constructing some of Colorado’s best new houses in Aurora resulting in a wide range of options that accommodate all income levels.
Total existing home sales in Aurora during the second quarter of 2015 (2,314) were 11.8 percent higher than sales reported in the second quarter of 2014. Single-family attached home sales (condominiums and townhomes) increased 23.5 percent over-the-year to 761 sales. Single-family detached home sales rose 6.8 percent to 1,553 sales.
The average sales price for homes in Aurora rose at a faster pace than Metro Denver during the second quarter of 2015. However, Aurora average sale prices are lower than the Metro Denver average. The Aurora average sales price for single-family detached homes was $100,300 lower than the Metro Denver level, while the Aurora single-family attached average home price was $86,780 lower than the Metro Denver level.
Apartment Vacancy and Rental Rates
During the second quarter of 2015, the apartment vacancy rate for three of the six Aurora submarkets decreased.
The largest over-the-year decrease was in the Aurora-Central Northeast submarket, where the vacancy rate fell 2.2 percentage points to 2.2 percent. Aurora-South and Aurora-Central Southwest also reported over-the-year declines, falling 1.2 percentage points and 0.9 percentage points, respectively. The Aurora-North submarket reported the largest over-the-year increase in vacancy, rising 9.5 percentage points. The Aurora-Central Southeast and Aurora-Central Northwest submarkets also reported over-the-year increases, rising 2.1 percentage points and 1.7 percentage points, respectively.
All of the Aurora submarkets reported growth in the average rental rate between the second quarters of 2014 and 2015. Aurora-Central Northeast ($1,055) and Aurora-Central Southeast ($1,123) reported the largest over-the-year increases in the average rental rate, rising 21.9 percent and 18 percent, respectively. The Aurora-North submarket reported the smallest increase over-the-year, rising 2.8 percent to $803 per month. In Metro Denver, the average rental rate increased 13.3 percent over-the-year to $1,265, marking the 21st consecutive quarter of increase in the average apartment rental rate.