As we head into spring 2025, the housing market in Will County, Illinois, is poised for increased activity. With broader national trends pointing to a rise in housing inventory, buyers and sellers alike are gearing up for a dynamic season. Here’s what you need to know about the local market and how it aligns with national forecasts.
Recent data reveals that Will County had approximately 2,522 homes listed for sale as of December 2024, with a median listing price of $343,245, reflecting a 7.3% increase year-over-year (Rocket Homes). This uptick in prices showcases the continued demand for homes in the area.
But what can we expect this spring? National housing experts, including those at Altos Research, predict a 15% increase in inventory throughout 2025, signaling more opportunities for buyers to find their dream homes (Money.com). Will County is likely to reflect this trend, with more homes expected to hit the market as sellers return, motivated by stabilizing mortgage rates and rising property values.
Increased Inventory Levels:
According to industry analysts, 2025 is shaping up to be a year of rising home inventory. Sellers who held off listing during 2024 due to economic uncertainty are now stepping into the market. This trend is especially pronounced in Illinois, where predictions point to a resurgence of seller activity (Houzeo).
Stabilizing Mortgage Rates:
Mortgage rates are projected to settle in the 6%–6.5% range by the end of 2025, offering some relief to buyers. While volatility may continue, lower rates could attract more buyers into the market, driving demand in areas like Will County.
Price Growth Balancing Out:
Nationally, home price appreciation is expected to moderate to a sustainable pace in 2025. In Will County, the current 7.3% growth in median home prices suggests continued but steady increases, making this spring an ideal time to enter the market before prices climb further.
For buyers, the anticipated increase in inventory means more options, whether you're looking for a starter home in Joliet or a family home in Naperville. Sellers, on the other hand, can benefit from rising prices and motivated buyers eager to secure a property before mortgage rates shift again.
Eddie Ruettiger and the team at EXIT Real Estate Specialists are here to guide you through these evolving trends. Whether you're buying your first home or selling to capitalize on this spring's market, our expertise ensures you’ll stay ahead of the competition.
For Buyers:
For Sellers:
As the 2025 housing market gains momentum, Will County is set to see a surge in activity. With more homes expected to hit the market and continued price growth, now is the time to act—whether you’re buying, selling, or both.
Contact Eddie Ruettiger and the EXIT Real Estate Specialists team today to explore your options and make the most of this spring’s opportunities.
Sources:
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Don’t miss out on the opportunities this spring housing market has to offer. Visit www.YourDwellings.com for up-to-date market insights, expert guidance, and personalized service to help you achieve your real estate goals.
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