Is Plato Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Plato Township has remained a Seller's Market.
Housing Prices in Plato Township, IL
How much do homes in Plato Township, IL cost?
Median Sold Price
$524,990
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Plato Township was $524,990 in May 2024, up 8.2% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $405K | - | N/A |
2 Bedrooms | $397K | $393.9K | -0.8% |
3 Bedrooms | $358.9K | $415.7K | +15.8% |
4 Bedrooms | $507K | $546.2K | +7.7% |
5+ Bedrooms | $559.3K | $573.7K | +2.6% |
Summary: Plato Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Cities
Elgin | $270.3K | $314.9K | +16.5% |
Campton Hills | $539.5K | $626K | +16.0% |
Plato Township | $485K | $524.9K | +8.2% |
Pingree Grove | $282.6K | $301.5K | +6.7% |
Rutland Township | $300K | $319.3K | +6.5% |
Housing Supply in Plato Township, IL
How many homes are available in Plato Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
77 | 85 | +10.4% |
Summary: The Plato Township real estate market had 85 homes for sale in May 2024, a 10.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 8 | +33.3% |
3 Bedrooms | 21 | 23 | +9.5% |
4 Bedrooms | 38 | 41 | +7.9% |
5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Plato Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 21 | +50.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Plato Township in May 2024, up by 50.0% month-over-month. Of the 21 sold homes, 38% were sold under asking, 14% were sold at asking, and 48% were sold over asking.
Days on Market for Plato Township, IL
How long does it take to sell a home in Plato Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
44 Days | 25 Days | -42.4% |
Summary: Homes in Plato Township had an average of 25 days on market in May 2024, down by 42.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Plato Township; 81% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.