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Joliet Sees More Than 12 Percent Jump in House Sales and Prices Over 2011

The number of sales is not as high as some neighboring communities, but neither are the sale prices decreasing, statistics show.

Home sales in the Chicago area during September were at a six-year high, according to a recent RE/MAX report—and most of Kendall and Will counties saw a similar boost.

In Joliet, with the number of homes sold increased 12.5 percent in September 2012 over September 2011, according to the Mainstreet Organization of Realtors (MORe). The average price of those homes sold also increased, escalating about 12.8 percent year over year.

Bolingbrook's market was the most sluggish, with the number of homes sold falling 25.9 percent in September 2012 compared to September 2011. Montgomery saw the biggest increase, with an 80 percent jump in sales, but overall prices decreased nearly 10 percent.

Across the Chicago area, the number of homes sold in September rose by 22 percent over Sept. 2011, according to RE/MAX. At 7,396 transactions, it was the busiest September for home sales since 2006. 

“We continue to see good news in the Chicagoland housing market,” said Laura Ortoleva, media spokesperson for the RE/MAX Northern Illinois real estate network. “Sales are up, average days on the market continue to drop and home prices are stabilizing. These are trends everyone likes to see.”

# of homes sold Avg. price Town 2012 2011 % change 2012 2011 % change BOLINGBROOK 43 58 -25.9% 154,097 164,323 -6.2% CHANNAHON 11 8 37.5% 191,292 152,918 25.1% JOLIET 81 72 12.5% 118,383 104,932 12.8% MINOOKA 12 7 71.4% 174,666 131,771 32.6% MONTGOMERY 36 20 80% 132,759 147,391 -9.9% OSWEGO 38 24 58.3% 218,272 220,323 -0.9% PLAINFIELD 97 80 21.3% 216,388 205,550 5.3% ROMEOVILLE 27 31 -12.9% 115,627 149,890 -22.9% SHOREWOOD 14 10 40% 236,847 250,588 -5.5% YORKVILLE 24 25 -4% 192,912 185,813 3.8%

Source: Mainstreet Organization of Realtors

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John Roberts October 17, 2012 at 01:22 PM
It is good to see but there is a consequence to all actions....As we see more and more people buy houses and fix them up and sell them we start to build a false economy here is why.... A person buys a house for 30,000 and fixes it up in a month or so.the house is resold for 70,000 and fixed up more and sold again for $100,000...now here is where the problems start...You buy a house for the $100,000 and fix it up now you have to find a buyer that the Bank will give a $130,000 loan to in an area where most of the houses are based at $30to $50,000 ....Hense causeing people to lose their homes they bought and fixed up because they still owe a note that has to be paid if you do not sell it...I personally know people who have dealt with this....In our own ignored actions we cause unintended consequences....Before too long housing like it pretty much has gets too far out of reach for the low paid worker...even though their rent is as much as a house note and more but can not get a loan for a house in their neighborhood.
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