Is Joliet, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Joliet is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Joliet has remained a Seller's Market.

Key Takeaway

Joliet is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$11,081(+4.3%)

Key Takeaway

Homes in Joliet have sold for 4.3% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $92.8K$90K
-3.0%
2 $195K$215K
+10.3%
3 $265K$280K
+5.7%
4 $347K$359.2K
+3.5%
5+ $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
+20.8%
Crest Hill
+12.0%
Troy Township
+6.3%
Joliet
+4.3%

Housing Supply in Joliet, IL

How many homes are available in Joliet, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
436513+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

# BEDSApr 2024May 2024CHANGE
1 35
+66.7%
2 9097
+7.8%
3 211251
+19.0%
4 105131
+24.8%
5+ 2729
+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 2024May 2024CHANGE
147143-2.7%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

78 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Joliet, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.

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 2023May 2024CHANGE
17 Days17 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Joliet are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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