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 April 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

$269,961

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$12,052(+4.7%)

Key Takeaway

Homes in Joliet have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Joliet was $269,961 in April 2024, up 4.7% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $93.9K$90K
-4.2%
2 $199.9K$215K
+7.6%
3 $264.7K$280K
+5.8%
4 $348K$358.9K
+3.2%
5+ $299K$351.5K
+17.6%

Summary: Joliet housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 17.6%.

Median Sold Price Compared To Nearby Cities

Joliet Township
+23.8%
Crest Hill
+13.8%
Joliet
+4.7%
Troy Township
+3.8%

Housing Supply in Joliet, IL

How many homes are available in Joliet, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
384437+13.8%

Summary: The Joliet real estate market had 437 homes for sale in April 2024, a 13.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 53
-40.0%
2 8591
+7.1%
3 191211
+10.5%
4 83106
+27.7%
5+ 2026
+30.0%

Summary: The Joliet housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 27.7%, and 5+ bedroom homes increased by 30%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
124139+12.1%

Asking Price vs. Sold Price

41 Homes Were Sold
Under Asking

30 Homes Were Sold
At Asking

68 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. 48.9% of homes here sold above asking price last month.

Summary: A total of 139 homes were sold or pending in Joliet in April 2024, up by 12.1% month-over-month. Of the 139 sold homes, 29% were sold under asking, 22% were sold at asking, and 49% 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

Apr 2023Apr 2024CHANGE
24 Days18 Days-25.7%

Summary: Homes in Joliet had an average of 18 days on market in Apr 2024, down by 25.7% compared to last year.

Breakdown of Home Sale Times

117 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

5 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 April 2024, 139 homes were sold in Joliet; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% 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 14 Days Ago

Newest Listings in Joliet, IL

Nearby Markets to Joliet, IL

What housing markets are near Joliet, IL?