November Joliet House Sales Dropped 26% from Last Year

The 76 single, detached homes sold in Joliet during November 2013 represented a 26.2 percent decrease from November 2012, when 103 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

There were 89 homes sold in Joliet during October.

Meanwhile, the median home sales price decreased in Joliet during November. The median price dropped 16.7 percent to $93,250 from $112,000 in November 2012, according to the statistics.

Among the 59 Patch communities surveyed, the number of homes sold decreased 2.6 percent, on par with the 2.4 percent drop seen across the estimated 200 Chicago suburbs MORe tracks. The median sales price of homes sold in Patch communities increased 5 percent from November 2012 to 2013. MORe reports that the number of homes under contract to close in 2014 actually increased 12.5 percent.

“We should continue to see a very solid housing market in 2014,” said Michael Parent, president of MORe and Vice President of Operations for Burnet Title’s Chicago Region.

“The gradual, sustainable increase of home prices in the Chicago suburban market is an especially positive trend. Rising values will allow more people to regain equity in their homes, helping to increase inventory, cut down on the number of future distressed properties and get the market moving. It’s truly a win for everyone – both buyers and sellers.”

• Largest percentage increase in homes sold: Channahon (233 percent)