Is Joliet, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Joliet has remained a Seller's Market.
Housing Prices in Joliet, IL
How much do homes in Joliet, IL cost?
Median Sold Price
$270,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Joliet was $270,000 in May 2024, up 4.3% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $92.8K | $90K | -3.0% |
2 Bedrooms | $195K | $215K | +10.3% |
3 Bedrooms | $265K | $280K | +5.7% |
4 Bedrooms | $347K | $359.2K | +3.5% |
5+ Bedrooms | $320K | $353K | +10.3% |
Summary: Joliet housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 10.3%.
Median Sold Price Compared To Nearby Cities
Joliet Township | $205K | $247.7K | +20.8% |
Crest Hill | $226.4K | $253.5K | +12.0% |
Troy Township | $291K | $309.2K | +6.3% |
Joliet | $258.9K | $270K | +4.3% |
Housing Supply in Joliet, IL
How many homes are available in Joliet, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
436 | 513 | +17.7% |
Summary: The Joliet real estate market had 513 homes for sale in May 2024, a 17.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 90 | 97 | +7.8% |
3 Bedrooms | 211 | 251 | +19.0% |
4 Bedrooms | 105 | 131 | +24.8% |
5+ Bedrooms | 27 | 29 | +7.4% |
Summary: The Joliet housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes increased by 7.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
147 | 143 | -2.7% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
78 Homes Were Sold
Over Asking
Summary: A total of 143 homes were sold or pending in Joliet in May 2024, down by 2.7% month-over-month. Of the 143 sold homes, 29% were sold under asking, 16% were sold at asking, and 55% were sold over asking.
Days on Market for Joliet, IL
How long does it take to sell a home in Joliet, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 17 Days | -5.1% |
Summary: Homes in Joliet had an average of 17 days on market in May 2024, down by 5.1% compared to last year.
Breakdown of Home Sale Times
117 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 143 homes were sold in Joliet; 82% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.