Is Joliet, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$266,500
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Joliet was $266,500 in February 2024, up 3.2% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117K | $75.5K | -35.5% |
2 Bedrooms | $197.5K | $210K | +6.3% |
3 Bedrooms | $265K | $274.9K | +3.8% |
4 Bedrooms | $345.1K | $357K | +3.4% |
5+ Bedrooms | $299K | $317.5K | +6.2% |
Summary: Joliet housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.5%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
Joliet Township | $191.1K | $245K | +28.2% |
Crest Hill | $221K | $250K | +13.1% |
Troy Township | $290.5K | $300K | +3.3% |
Joliet | $258.3K | $266.5K | +3.2% |
Housing Supply in Joliet, IL
How many homes are available in Joliet, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
327 | 357 | +9.2% |
Summary: The Joliet real estate market had 357 homes for sale in February 2024, a 9.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 87 | 91 | +4.6% |
3 Bedrooms | 134 | 147 | +9.7% |
4 Bedrooms | 86 | 93 | +8.1% |
5+ Bedrooms | 17 | 22 | +29.4% |
Summary: The Joliet housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 29.4%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
108 | 92 | -14.8% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Summary: A total of 92 homes were sold or pending in Joliet in February 2024, down by 14.8% month-over-month. Of the 92 sold homes, 37% were sold under asking, 22% were sold at asking, and 41% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
35 Days | 28 Days | -19.7% |
Summary: Homes in Joliet had an average of 28 days on market in Feb 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During February 2024, 92 homes were sold in Joliet; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.