Joliet, IL 60431 Real Estate Market Report

ZIP Code: 60431
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The housing market in Joliet, IL (ZIP: 60431) is characterized by a median sold price of $340,000, reflecting a robust demand and notable price appreciation. The market has shown a positive trend, with prices moving up year-over-year. This indicates a strong seller's market, as homes are selling relatively quickly despite the elevated interest rate pressure impacting affordability.

Transaction activity remains moderately active, with 204 days as the median days on market, suggesting that while properties are selling, the process may be slower than in more competitive markets. The median listing price stands at $329,500, which indicates a slight pricing friction between seller expectations and buyer willingness, further emphasizing the dynamics of this market.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The median sold price of $340,000 indicates strong market demand and price appreciation.

2. With 204 days on market, properties are experiencing slower sales velocity, suggesting potential pricing adjustments may be needed.

3. The median listing price of $329,500 reflects a slight gap compared to sold prices, indicating potential pricing friction in the market.

4. The rental market is also strong, with a median market rent of $2,130, supporting overall housing demand.

5. Elevated interest rate pressure is impacting affordability, which may influence future buyer activity and market dynamics.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.