Is Des Plaines, 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, Des Plaines has remained a Seller's Market.
Housing Prices in Des Plaines, IL
How much do homes in Des Plaines, IL cost?
Median Sold Price
$300,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Des Plaines was $300,000 in May 2024, up 1.7% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $134K | $140K | +4.5% |
2 Bedrooms | $235K | $242.5K | +3.2% |
3 Bedrooms | $330K | $356K | +7.9% |
4 Bedrooms | $395K | $430K | +8.9% |
5+ Bedrooms | $547.5K | $590K | +7.8% |
Summary: Des Plaines housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
Maine Township | $331.5K | $363.3K | +9.6% |
Park Ridge | $491K | $525.7K | +7.1% |
Mount Prospect | $359.2K | $382K | +6.3% |
Des Plaines | $295K | $300K | +1.7% |
Housing Supply in Des Plaines, IL
How many homes are available in Des Plaines, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
220 | 245 | +11.4% |
Summary: The Des Plaines real estate market had 245 homes for sale in May 2024, a 11.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 14 | -17.6% |
2 Bedrooms | 78 | 87 | +11.5% |
3 Bedrooms | 79 | 100 | +26.6% |
4 Bedrooms | 31 | 26 | -16.1% |
5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The Des Plaines housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 17.6%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 26.6%, 4 bedroom homes decreased by 16.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
73 | 79 | +8.2% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Summary: A total of 79 homes were sold or pending in Des Plaines in May 2024, up by 8.2% month-over-month. Of the 79 sold homes, 38% were sold under asking, 15% were sold at asking, and 47% were sold over asking.
Days on Market for Des Plaines, IL
How long does it take to sell a home in Des Plaines, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 16 Days | -20.2% |
Summary: Homes in Des Plaines had an average of 16 days on market in May 2024, down by 20.2% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 79 homes were sold in Des Plaines; 85% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.