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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Joliet Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Joliet Township, IL

How much do homes in Joliet Township, IL cost?

Median Sold Price

$259,924

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,950(+10.6%)

Key Takeaway

Homes in Joliet Township have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Joliet Township was $259,924 in October 2024, up 10.6% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $75.5K$100.5K
+33.1%
2 $183.4K$210.2K
+14.6%
3 $245K$267.6K
+9.2%
4 $312.5K$325K
+4.0%
5+ $265K$350K
+32.1%

Summary: Joliet Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.1%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 32.1%.

Median Sold Price Compared To Nearby Cities

Crest Hill
+10.7%
Joliet Township
+10.6%
Joliet
+6.1%
Lockport Township
+5.4%

Housing Supply in Joliet Township, IL

How many homes are available in Joliet Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
403452+12.2%

Summary: The Joliet Township real estate market had 452 homes for sale in October 2024, a 12.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 79
+28.6%
2 104114
+9.6%
3 191223
+16.8%
4 8684
-2.3%
5+ 1522
+46.7%

Summary: The Joliet Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 16.8%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 46.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
117130+11.1%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

53 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Joliet Township, you could pay more than the asking price. 40.8% of homes here sold above asking price last month.

Summary: A total of 130 homes were sold or pending in Joliet Township in October 2024, up by 11.1% month-over-month. Of the 130 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% were sold over asking.

Days on Market for Joliet Township, IL

How long does it take to sell a home in Joliet Township, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days18 Days-12.3%

Summary: Homes in Joliet Township had an average of 18 days on market in Oct 2024, down by 12.3% compared to last year.

Breakdown of Home Sale Times

103 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 130 homes were sold in Joliet Township; 79% of homes were sold within 30 days, 19% 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 20 Days Ago

Newest Listings in Joliet Township, IL

Nearby Markets to Joliet Township, IL

What housing markets are near Joliet Township, IL?