A wide spectrum of housing choices

Residental Real Estate

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. 
Existing Home Sales—Total sales in Aurora during the second quarter of 2017 (2,121) were 2.6 percent higher than sales reported in the second quarter of 2016, reflecting the sale of 53 more homes. Single-family attached home sales (condominiums and townhomes) decreased 0.5 percent over-the-year to 802 sales. Single-family detached home sales increased over-the-year by 4.5 percent to 1,319 sales.
  • Metro Denver reported 17,165 total home sales during the second quarter of the year. The second quarter sales level was 2.1 percent higher than the previous year, and 50.6 percent higher than the previous quarter, reflecting the seasonal surge in sales activity.
  • The average sales price for homes in Aurora continued to rise during the second quarter of 2017, with single-family detached homes increasing 7.1 percent over-the-year, and single-family attached increasing 11.2 percent over-the-year. Compared to Metro Denver averages, Aurora housing remains less expensive for both single-family detached homes ($148,970 lower) and single-family attached homes ($74,043 lower).

Apartment Vacancy and Rental Rates

During the second quarter of 2017, the apartment vacancy rate for four of the six Aurora submarkets decreased, while one remained unchanged. 
The largest over-the-year decrease was in the Aurora-Central Northwest submarket, where the vacancy rate fell 2 percentage points to 4.5 percent. Aurora-Central Northeast (-1.7 percentage points), Aurora-Central Southeast (-1.7 percentage points), and Aurora-South (-0.4 percentage points) also recorded over-the-year decreases in vacancy rates. The Aurora-Central Southwest submarket recorded the only increase in the vacancy rate over-the-year, rising 1 percentage point to 5.2 percent. The vacancy rate was 1.2 percentage points lower in Adams County (5.2 percent) between the second quarters of 2016 and 2017, and 0.5 percentage points lower in Arapahoe County (4.3 percent). The vacancy rate in Metro Denver fell 0.4 percentage points over-the-year to 5 percent. 
Five of the six Aurora submarkets reported growth in the average rental rate between the second quarters of 2016 and 2017. Aurora-South ($1,429 per month) and Aurora-Central Southeast ($1,284 per month) reported the largest over-the-year increases in the average rental rate, rising 10.4 percent and 7.5 percent, respectively. The Aurora-North submarket reported the only decrease over-the-year, falling 8.3 percent to $1,430 per month. The average rental rate increased 1.6 percent in Adams County and 4.9 percent in Arapahoe County between the second quarters of 2016 and 2017. In Metro Denver, the average rental rate increased 3.6 percent over-the-year to $1,420 per month.