Real Estate
Joliet Housing Market Sees Drop in Sales
When comparing October 2011 to October 2012, the decline was 7 percent; however, October was still better than September in both years, statistics show.
House sales in Joliet dropped by 7 percent when comparing the October 2012 numbers to those tallied in October 2011.
According to statistics provided by the Mainstreet Organization of Realtors, there were 91 homes sold in Joliet last month compared to 98 in October 2011. The median price also dropped by about 1 percent, going from $105,000 to $104,000.
That said, the number of homes sold in both months were better than the 81 sold in September 2012 and the 72 sold in September 2011, statistics show.
Find out what's happening in Jolietfor free with the latest updates from Patch.
The market for detached, single-family homes in suburbs throughout Kendall and Will counties saw growth in October, according to the Mainstreet Organization of Realtors (MORe). MORe gets its statistics from Midwest Real Estate Data.
Shorewood experienced the most dramatic percent change in the number of homes sold, with an uptick of 175 percent in October 2012 over October 2011. The number of actual homes sold this October was 11, compared to the four sold during the same period last year.
Find out what's happening in Jolietfor free with the latest updates from Patch.
Romeoville saw the largest percent drop, with 18.2 percent fewer homes sold year over year in October. That shakes out to 27 homes sold in October 2012 compared to 33 sold in October 2011.
Overall across the Chicago suburbs, sales of single-family detached homes rose 44.6 percent in October over the same month in 2011, according to MORe.
MORe predicts November will be another month of local housing market growth, as the number of detached homes under contract in October 2012 was 65.8 percent higher than in October 2011.
“2012 has already been a strong year for the housing market, and we are seeing activity continue to increase,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Affordable home prices and historically low interest rates have created a rare opportunity for buyers. We are actually back to the point where we are seeing multiple offers on properties.”
150,000
179,950
16.6% CHANNAHON 11 10 10%168,000
190,000
-11.6% JOLIET 91 98 -7.1%104,000
105,000
-1% MINOOKA 9 6 50%160,000
103,950
53.9% MONTGOMERY 39 20 95%155,000
154,000
212,610
219,290
-3.1% PLAINFIELD 98 74 21.3%174,950
199,500
-12.3% ROMEOVILLE 27 33 -18.2%125,000
122,000
2.5% SHOREWOOD 11 4 175%185,000
196,500
-3.9% YORKVILLE 17 18 -5.6%240,000
185,813 22.1%Source: Mainstreet Organization of Realtors
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
