Will County

Often the mark of the current health of a real estate market is thought to be, “how many new construction homes are being built?” This illustrates exactly how good the Will County market is doing at the current time. New construction, single family homes are up over 20% from a year ago at this time!

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Will County put almost 22% more houses under contract this June than last! 5% fewer homes were listed, leading to a decrease of actual inventory available of almost 30%

While almost 22% more houses were contracted, over 15% more closed than a year ago. Closings for the rolling year are up nearly 11%!

Market time has increased by almost two weeks on median but sold prices have too!

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Happy Independence Day, Will and Grundy County. Celebrate safely, please.

Here’s where you can find fireworks in Will County (courtesy of fireworksinillinois.com):

Lockport 4th of July Fireworks

Date:  July 3, 2015 at 9:10pm
Where: Dellwood Park
18th and Lawrence Ave
in Lockport, Illinois 60441
Find more fireworks displays in Lockport, Illinois

Romeoville Independence Day

Date:  July 3, 2015 at 9:15pm
Where: Village Park
900 W. Romeo Road
in Romeoville, Illinois 60446
Find more fireworks displays in Romeoville, Illinois

Patriotic Picnic and Fireworks

Date:  July 3, 2015 at Dusk
Where: Plainfield Central High School
24120 W. Fort Beggs Dr.
in Plainfield, Illinois 60544
Find more fireworks displays in Plainfield, Illinois

Lemont Park District Freedom Days Fireworks

Date:  July 3, 2015 at Dusk
Where: Centennial Park
16028 127th St
in Lemont, Illinois 60439
Find more fireworks displays in Lemont, Illinois

Park Forest July 4th Celebration

Date:  July 4, 2015 at 9:15pm
Where: Central Park
410 Lakewood
in Park Forest, Illinois 60466
Find more fireworks displays in Park Forest, Illinois

Bolingbrook All American Celebration

Date:  July 4, 2015 at 9:15pm
Where: Bolingbrook Golf Club
2001 Rodeo Drive
in Bolingbrook, Illinois 60490
Find more fireworks displays in Bolingbrook, Illinois

Channahon 4th of July Fireworks

Date:  July 4, 2015 at 9:15pm
Where: Community Park
23200 W McClintock Rd
in Channahon, Illinois 60410
Find more fireworks displays in Channahon, Illinois

Joliet 4th of July Fireworks

Date:  July 4, 2015 at Dusk
Where: Memorial Stadium
3000 W. Jefferson St.
in Joliet, Illinois 60435
Find more fireworks displays in Joliet, Illinois

Ribfest Fireworks

Date:  July 4, 2015 at 9:30pm
Where: Knoch Park
724 S. West St.
in Naperville, Illinois 60540
Find more fireworks displays in Naperville, Illinois

Beecher Fourth of July

Date:  July 4, 2015 at 9:30pm
Where: Firemen’s Park
673 Penfield St
in Beecher, Illinois 60401
Find more fireworks displays in Beecher, Illinois

New Lenox 4th of July

Date:  July 4, 2015 at 9:30pm
Where: Village Commons
1 Veterans Parkway
in New Lenox, Illinois 60451
Find more fireworks displays in New Lenox, Illinois

Frankfort 4th of July Celebration

Date:  July 4, 2015 at Dusk
Where: Main Park
400 W. Nebraska St.
in Frankfort, Illinois 60423
Find more fireworks displays in Frankfort, Illinois
Here’s where you can find fireworks in Grundy County (courtesy of fireworksinillinois.com):

Channahon 4th of July Fireworks

Date:  July 4, 2015 at 9:15pm
Where: Community Park
23200 W McClintock Rd
in Channahon, Illinois 60410
Find more fireworks displays in Channahon, Illinois

Grundy County Fair

Date:  July 5, 2015 at Dusk
Where: Grundy County Fairgrounds
Illinois Rt 47
in Morris, Illinois 60450
Find more fireworks displays in Morris, Illinois

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The Will County housing market continues to thrive, like the Grundy County market. More houses are selling and fewer are available- thus rising prices. Surprisingly, the median market time has jumped up by 11 days. I suspect this is because home buyers are having a harder time finding a house that they are in love with. The most desirable houses go quickly and others take a touch longer with buyers waiting for gems to hit the market.

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“How long will this house be on the market?” – many buyers

The short, honest, answer to that question is, “I don’t know.” No one likes to hear that- but it’s the truth. At any given time someone can be interested in any house on the market and it could sell tomorrow. As a stat-driven-REALTOR I think numbers can lead you on the right path to educated choices. They will never guarantee anything, of course, but they will give you an inkling as to how long something should take. Take this chart of Will and Grundy County properties to close in the last three months (9.28.14 to 12.28.14); 2558 bits of data (closed sales of any type $20,000 or higher) comparing listing market time to percentage of  original list price sold for. I’m on record as preaching that houses generally sell for 94-96% of last list price. I think this shows that I’m not wring.

How do I use this fancy chart to tell me what I asked, smart guy?

Well, you DO need the help of a market expert (I’m one, but there are others). If a house you’re selling or one you’re interested in buying is priced correctly (ie: within 4-6% of where the professional tells you it is likely to sell for), you can surmise that it won’t be on the market very long. If your pro thinks that its value is about 80% of where it is listed, it has just a good of a chance at selling in 120 days as it does 30. PLEASE NOTE: This date is for the FINAL list price. So if that house you have your eye on drops its price, it’s odds of selling sooner will very likely increase. Of these 2558 properties, 1864 (72.9%) had NO price drops in its listing time.

Will/ Grundy County closed sales 9.28.14 to 12.28.14, of better than 70% list price to sales price and 365 days or fewer on the market.

Does this help or make it more unclear?

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Will County continues to be a thriving market in Illinois. In September of 2014, listings and houses under contract are way up (21 and 27 percent, respectively). Homes closed are up 6% year over year and the time to sell those houses is way down (almost 34% year over year). This is a solid market.

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Will County Housing Stats, August 2014

September 8, 2014

We’re into September and a few days later than I’d like to usually send these numbers your way, so I apologize. Of significance, in my opinion, is that Will County put better than 21% more houses under contract this August than last. That could be because of the bad winter that slowed the start of [...]

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Will County July Report

August 1, 2014

Here’s what happened in Will County in July and how that compares to what it did last year. The report also includes the year heading up to July this year as well as last. Of significant note, look how much the median market time has decreased!!!

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Joliet, By Zip Code

July 23, 2014

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. [...]

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Will County Market Snapshot

July 10, 2014

June has come and gone and with it, half the year. Can you believe it? This update is a market snapshot for my friends and followers in Will County. Important to note: Contracts in Will County are up over 24% from last year! Sales are up over 10% from last June and up over 11% [...]

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