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Will County Gazette

Saturday, November 23, 2024

2017 home sales: How did Will County prices fare?

Realestate5

Median prices rose in most Will County suburbs last year, but are still off as much as 71 percent from 2007 highs, adjusted for inflation, according to sales data collected by Blockshopper.com.

Prices rose by 9.6 percent in Joliet, 8 percent in Bolingbrook and 11.1 percent in Romeoville. Plainfield (+1 percent), Naperville (+1 percent), Frankfort (+6.5 percent), New Lenox (+4.3 percent), Lockport (+5.5 percent), Mokena (+8.5 percent) and Aurora (+6.7 percent) also saw prices go up over 2016. 

Prices fell in Shorewood by 1.8 percent.

Despite gains over 2016, real estate markets in the county's largest cities have had a difficult time recovering home values over the last 10 years. 

In Plainfield, the median price fell from an inflation-adjusted $356,360 in 2007 to $257,300 in 2017 – a difference of 27.8 percent.

Median prices in Joliet were 24.6 percent lower in 2017 than in 2007. Bolingbrook (-24.2 percent), Romeoville (-22.8 percent), Naperville (-25.7 percent), Frankfort (-26.5 percent), New Lenox (-26.3 percent), Lockport (-23.4 percent) and Aurora (-27.6 percent) also continue to see prices significantly lower than their 2007 peak.

The market in Shorewood is among the best performers over the past 10 years but are still down nearly 30 percent.

For cities in multiple counties, including Naperville, Aurora, Park Forest and Tinley Park, data includes the portion of each city within Will County.

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Will County 2017 median sale prices

CityProperties sold 2017Median sale price 2017Median sale price 2016Change in price
Steger57$77,000$47,00063.83%
Preston Heights25$110,000$76,50043.79%
Park Forest25$52,000$42,02523.74%
Channahon147$224,500$183,50022.34%
Manhattan226$250,000$208,00020.19%
Ingalls Park51$90,000$75,00020.00%
Crystal Lawns36$175,000$150,60016.20%
Arbury Hills18$179,250$156,50014.54%
Braidwood103$133,500$117,07514.03%
Elwood41$177,000$156,95012.77%
Crete194$149,200$132,50012.60%
Romeoville573$170,000$153,00011.11%
Monee77$177,000$160,00010.63%
Frankfort Square139$215,000$195,00010.26%
Willowbrook44$197,500$179,50010.03%
Joliet1,539$160,000$146,0009.59%
Mokena262$288,750$266,2508.45%
Wilmington33$135,000$125,0008.00%
Bolingbrook784$205,000$189,9007.95%
Carillon14$177,000$164,0007.93%
Crest Hill152$154,900$145,0006.83%
Aurora241$200,000$187,5006.67%
Frankfort373$360,000$337,9006.54%
Fairmont13$41,000$38,5006.49%
Lockport272$189,750$179,9005.48%
Beecher36$174,250$166,0004.97%
Homer Glen185$305,000$292,5004.27%
New Lenox287$245,000$235,0004.26%
Plainfield459$257,300$255,0000.90%
Naperville401$421,000$417,5000.84%
Shorewood227$221,000$225,000-1.78%
Minooka25$257,000$265,000-3.02%
Tinley Park49$285,000$295,000-3.39%
Ridgewood10$79,500$86,500-8.09%
Peotone21$150,000$173,000-13.29%
Rockdale11$85,000$105,000-19.05%
University Park42$59,376$90,250-34.21%
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10-year change in sale prices

2007 median sale prices are adjusted for inflation

CityProperties sold 2017Median sale price 2017Median sale price 2007Change in price
Fairmont13$41,000$139,889-70.69%
Park Forest25$52,000$129,787-59.93%
University Park42$59,376$129,800-54.26%
Rockdale11$85,000$165,790-48.73%
Willowbrook44$197,500$365,800-46.01%
Steger57$77,000$142,208-45.85%
Ridgewood10$79,500$133,340-40.38%
Ingalls Park51$90,000$146,320-38.49%
Peotone21$150,000$241,157-37.80%
Crete194$149,200$229,510-34.99%
Tinley Park49$285,000$418,900-31.96%
Beecher36$174,250$255,992-31.93%
Monee77$177,000$253,687-30.23%
Shorewood227$221,000$312,207-29.21%
Wilmington33$135,000$188,387-28.34%
Plainfield459$257,300$356,360-27.80%
Aurora241$200,000$276,120-27.57%
New Lenox287$245,000$333,940-26.63%
Frankfort373$360,000$489,582-26.47%
Naperville401$421,000$566,282-25.66%
Minooka25$257,000$344,198-25.33%
Joliet1,539$160,000$212,282-24.63%
Bolingbrook784$205,000$270,515-24.22%
Crest Hill152$154,900$203,196-23.77%
Lockport272$189,750$247,800-23.43%
Romeoville573$170,000$220,070-22.75%
Elwood41$177,000$227,740-22.28%
Homer Glen185$305,000$389,400-21.67%
Arbury Hills18$179,250$227,740-21.29%
Frankfort Square139$215,000$269,040-20.09%
Crystal Lawns36$175,000$217,120-19.40%
Braidwood103$133,500$163,424-18.31%
Channahon147$224,500$264,556-15.14%
Manhattan226$250,000$280,159-10.77%
Preston Heights25$110,000$121,540-9.49%
Carillon14$177,000$188,800-6.25%
Mokena262$288,750$300,310-3.85%
Source: BlockShopper.com; Will County Recorder; Sales include all transactions that include financial consideration.

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