The cute town of Aurora, Ontario, is in the York Region of the Greater Toronto Area. Aurora is a great mix of suburban living and modern conveniences, with a population of about 60,000 people. 
 

As a result of its rapid growth over the years, the town is now a great place to invest in real estate. Aurora's real estate market is varied, with a wide range of homes to choose from for people with different tastes and budgets.

 

The fact that Aurora is close to Toronto is one of the main reasons why people want to buy homes there. It only takes 35 minutes to drive from the town to downtown Toronto, making it a great place for people who need to travel. 

 

Many people want to live in Aurora because it's easy to get to the big city like Toronto and still has the feel of a small town. In the past few years, a lot of families have moved to Aurora in search of a better quality of life while still being able to work in Toronto.

 

The housing market in Aurora has stayed steady and is still growing. A single-family home in Aurora costs about $1.4 million on average, which is more than the national average. 

 

But the town's housing market is still easy to get into, with lots of smaller homes and condos for less money. People who want to make a safe long-term investment should look at Aurora's real estate market. The town's population is expected to grow over the next ten years.

 

Over the years, the town's real estate market has grown a lot, and there are now a lot of new buildings and housing projects going on. There are both low-rise and high-rise projects in the developments, so they can suit a wide range of buyers. 

 

There are different kinds of homes for sale in the town, such as single-family homes, flats, and condos.

 

Young families are especially interested in buying homes in this town because it has great schools, neighborhood services, and recreation facilities. Some of the best schools in the state are in Aurora, which makes it a good place for families with kids. 

 

There are many fun things to do in the town for people of all ages, such as parks, walking tracks, and sports facilities.

 

In addition to its great location and many features, Aurora's real estate market is one of a kind because it has many historic homes. The downtown area of the town is very cute and full of historic homes and buildings, which give the real estate market in the town more flavor. 

 

People who like the town's past and architecture are really interested in the historic homes.

The city of Aurora in Ontario is a great place to invest in real estate. The town is a great place to live because it is close to everything, has great schools, parks, and different kinds of homes. 

 

Aurora is a great place to invest for the long run because the real estate market is stable and growing, and the town has many unique heritage properties. 

 

Overall, Aurora's real estate market is a great choice for people who want to live in a nice, cheap, family-friendly area that's only a short drive from the city.

How hot is the housing market in Aurora?

• With only one month's worth of homes for sale, the real estate market in rural Aurora is very hot right now. Based on 8 sales in December 2023, the median sales price for Rural Aurora, Aurora, York Region is $1,161,940. 
• Most of the sales were in the $1M to $1.5M price band. In rural Aurora, independent houses make up 49% of sales. Townhouses come in at 28%, and condos come in at 19%. Most of the homes have four beds.
• Based on 4 rentals in December 2023, the median rent price in Rural Aurora, Aurora, and York Region is $2,750. Most rentals are priced at or above $3,000. 
• Most of the rentals in rural Aurora are single-family homes (58% of all rentals), followed by townhouses (29%), and finally condos (11%). Most of the homes have four beds.
• It was $1,150,000 for the median listed home on the market in Aurora, ON in December 2023.
• Median size home for sale in Aurora, ON in December 2023 was at least 2,500 square feet.
• There were 19 median MLS® properties in Aurora, ON in December 2023.

Real Estate search in Aurora

There are a lot of important details in each Aurora MLS listing, like the price, number of days the house has been on the market, square footage, year built, lot size, number of bedrooms and bathrooms, assigned schools, building type, and more. These details are entered by the listing agent.

 

Look at the current listing state (active, under contract, or pending) and the local Aurora property tax information. As they become available, many property features, such as views, swimming pools, greenbelt locations, and Aurora neighborhood amenities, like parks and golf courses, will be listed.

 

The real estate market in Aurora

There are a variety of single-family homes, townhouses, and condos for sale in Aurora. Most of the homes in the area have between 1,200 and 2,200 square feet of living space and three bedrooms. 

Most homes in the area cost between $790,000 and $2.1 million. But high-end houses in Aurora can cost anywhere from $2.6 million to $13.8 million.

 

Aurora Housing market trends

There are 58 houses for sale in Aurora, Ontario, and there are presently 20 new listings. In contrast to December 2023, when homes in Aurora sold for a median price of $1.5 million, today's homes sell on Houseful in an average of 10 days.

In December 2023, the median sales price of single-family homes in Aurora, Ontario was $1,154,000, down from $2,375,000 in November 2023. This is a 51.41% monthly decline. Given that the percentage of homes sold below list in Aurora during November and December is more than 100% month over month, the area is a buyer's market.

 

How Real Estate Market Aurora Is Different From Toronto

The real estate markets in Aurora and Toronto, while geographically close, can differ in several aspects. Here are some key differences between the real estate markets in Aurora, Ontario, and Toronto:

Location and Size:

• Aurora: Aurora is a smaller town located in the York Region, part of the Greater Toronto Area (GTA). It offers a mix of suburban living with a smaller population compared to Toronto.
• Toronto: Toronto is a major city, the capital of Ontario, and the largest city in Canada. It is a bustling metropolis with diverse neighborhoods and a larger population.

Housing Market Characteristics:

• Aurora: The real estate market in Aurora is often characterized by a mix of housing options, including single-family homes, flats, and condos. It has a unique blend of historic homes, and the market is known for its stability and growth.
• Toronto: Toronto's real estate market is more diverse and dynamic due to its urban nature. It offers a wide range of housing types, from condominiums and townhouses to detached homes. The market in Toronto can be more competitive and fast-paced.

Prices and Affordability:

• Aurora: While Aurora has seen rapid growth, the average home prices are generally lower than those in Toronto. It provides an option for those seeking a suburban lifestyle with proximity to the city.
• Toronto: Toronto's real estate market tends to have higher average home prices, reflecting the demand for urban living and the city's economic opportunities. Affordability can be a challenge for some buyers.

Market Activity and Demand:

• Aurora: The market in Aurora may have a different level of activity compared to Toronto. It could experience a steady and growing demand, particularly from families seeking a more suburban lifestyle.
• Toronto: Toronto's real estate market is often characterized by high demand, especially in desirable neighborhoods. The market can be influenced by various factors, including employment opportunities, immigration, and economic trends.

Commute and Proximity to Toronto:

• Aurora: One of the attractions of Aurora is its proximity to Toronto, making it a popular choice for those who work in the city but prefer a quieter suburban environment.
• Toronto: Living in Toronto provides the advantage of being at the heart of economic and cultural activities, but it may come with a higher cost of living and potentially longer commutes.

It's essential to note that real estate markets are dynamic and subject to change based on economic conditions, government policies, and other factors. Potential homebuyers or investors should conduct thorough research and seek advice from local real estate professionals to make informed decisions based on the current market conditions.

 

Frequently Asked Questions (FAQs) about Homes for Sale in Aurora, Ontario:

Q1: What makes Aurora, Ontario, a desirable place to invest in real estate?
A: Aurora offers a mix of suburban living and modern conveniences, with proximity to Toronto, great schools, parks, and diverse housing options. The real estate market is stable and growing, making it an attractive long-term investment.

Q2: How long does it take to drive from Aurora to downtown Toronto?
A: It takes approximately 35 minutes to drive from Aurora to downtown Toronto.

Q3: What is the average cost of a single-family home in Aurora?
A: The average cost of a single-family home in Aurora is around $1.4 million, which is higher than the national average. However, there are smaller homes and condos available at lower prices.

Q4: Is Aurora's real estate market suitable for families?
A: Yes, Aurora is family-friendly with excellent schools, neighborhood services, and recreational facilities. Many young families have moved to Aurora in search of a better quality of life.

Q5: What types of homes are available in Aurora?
A: Aurora offers a variety of homes, including single-family homes, flats, and condos. There are both low-rise and high-rise housing projects to cater to a wide range of buyers.

Q6: What is the current state of the housing market in Aurora?
A: The housing market in Aurora is currently very hot, with only one month's worth of homes for sale. The median sales price for rural Aurora in December 2023 was $1,161,940.

Q7: How long does it take, on average, for homes to sell in Aurora?
A: As of now, homes in Aurora are selling on Houseful in an average of 10 days, indicating a fast-paced market.

Q8: What are the rental prices like in Aurora?
A: The median rent price in Rural Aurora, Aurora, and York Region is $2,750, with most rentals priced at or above $3,000. Single-family homes constitute the majority of rentals.

Q9: What are the trends in the Aurora housing market?
A: As of now, there are 58 houses for sale in Aurora, with 20 new listings. Homes are selling faster than in December 2023, with an average selling time of 10 days.

Q10: Are there reputable real estate agents in Aurora?
A: Yes, there are several reputable real estate agents in Aurora, such as Re/Max Realtron, The Polsinello Real Estate Team, Sherry Foroutan Forest Hill Real Estate Agency, and others. It's advisable to contact and research agents based on individual preferences and needs.