I always talk about how real estate is local. You probably get tired of reading it. I thought I’d take a chance to highlight it further by showing Joliet broken down by zip codes. I’ve taken 60431, 60432, 60435 and 60436 and displayed the median sales price of each over the last 3 years below. Seeing things how I see them yet?


Absorption rates  tell you two big things: the type of market you’re in and about how long you might expect your home to need on the market to sell (If you don’t have an agent pricing and marketing you right to stay ahead of the curve …..but sometimes even if you do!) Many will tell you that the absorption rates in a normal market are 5-6 months, less time for a seller’s market and more time for a buyer’s market (like we’re in now.) The higher the months of absorption…..the more power a buyer is holding.

You can use absorption rates for big groups or little. Say, ALL homes  in Lockport [lots of results] OR 2 bedroom homes in Wilmington [not many results]. In any circumstance it gives you an idea of the market for the type of property you’re looking into.

Below you will see a chart of the number of homes sold in the past 12 months in various towns and how many per month that is. You will also see the current inventory and then the absorption rate. In this graph, blue stands for ice cold. Red, though the BEST of these groups, would be a stretch to identify as anything resembling hot. Even lukewarm might make me a liar. But you get the gist.

How fast do homes sell 'round here?

In case you don't want to sell quickly, please digest with ease.


Joliet Slammers

by Jim Ludes on March 11, 2011

in Friday Fun

I was super late to the party in finding out that the Jackhammers are gone and that Joliet’s newest minor league baseball team is the Slammers (an ode to both home runs and the famous prison system). Yesterday they held a ceremony to unveil the organization’s new logo.

As the newest Frontier League team develops their web presence, they’re doing a great job with news and promo over at their facebook page.