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 May 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

$247,736

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$42,724(+20.8%)

Key Takeaway

Homes in Joliet Township have sold for 20.8% more than they did a year ago.

Summary: The median home sold price in Joliet Township was $247,736 in May 2024, up 20.8% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $93.9K$88.5K
-5.8%
2 $165K$203.3K
+23.2%
3 $215K$260K
+20.9%
4 $253.2K$327.2K
+29.2%
5+ $250.5K$305K
+21.8%

Summary: Joliet Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes increased by 21.8%.

Median Sold Price Compared To Nearby Cities

Joliet Township
+20.8%
Lockport Township
+12.2%
Crest Hill
+12.0%
Joliet
+4.3%

Housing Supply in Joliet Township, IL

How many homes are available in Joliet Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
344412+19.8%

Summary: The Joliet Township real estate market had 412 homes for sale in May 2024, a 19.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 35
+66.7%
2 8692
+7.0%
3 160201
+25.6%
4 7288
+22.2%
5+ 2326
+13.0%

Summary: The Joliet Township 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%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

Apr 2024May 2024CHANGE
121110-9.1%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

57 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. 51.8% of homes here sold above asking price last month.

Summary: A total of 110 homes were sold or pending in Joliet Township in May 2024, down by 9.1% month-over-month. Of the 110 sold homes, 33% were sold under asking, 15% were sold at asking, and 52% 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

May 2023May 2024CHANGE
19 Days16 Days-18.9%

Summary: Homes in Joliet Township had an average of 16 days on market in May 2024, down by 18.9% compared to last year.

Breakdown of Home Sale Times

90 Homes Were Sold
Under 30 Days

18 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 May 2024, 110 homes were sold in Joliet Township; 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

Newest Listings in Joliet Township, IL

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