In this Won’t You Be My Neighbor? edition, we go east to one of the most affordable areas in the Denver metro area: Aurora’s 80010 zip code. The map above shows the outline of this area which is shared by both Adams and Arapahoe counties. The table below shows transaction activity for the last three (3) months. Surprisingly, these figures do not reflect a low inventory market. There are 28 properties on the market. However, the median listing price for these homes is $246,243. There were 117 homes sold which is a huge improvement over the last year.
Below is the data from January of 2015 for the same zip code in Aurora showing the median sold price of $167,900. Unless income increased by 44% over the same period of time, current homes are not affordable for the same population. You can assume that buyers for these homes are not the same as the ones from back in early 2015 and that’s just over a year and a half ago. Payments would have been averaging about $1000/mo back then with a minimum down payment. Now you’re looking at a payment closer to $1500/mo.
The huge Fitzimons redevelopment, health facilities and RTD projects have been part of the reason for growth and increase in pricing. Check out Vida’s Market Insider to see more details about this area including area demographics, crime statistics and school data. Contact Rogelio to sell or find your home!