Is Des Plaines, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$291,728
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Des Plaines was $291,728 in March 2024, down 4.4% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $132.5K | $137.5K | +3.8% |
2 Bedrooms | $240K | $235.5K | -1.9% |
3 Bedrooms | $335K | $352K | +5.1% |
4 Bedrooms | $400K | $414.9K | +3.7% |
5+ Bedrooms | $480K | $600K | +25.0% |
Summary: Des Plaines housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 25%.
Median Sold Price Compared To Nearby Cities
Maine Township | $330.3K | $360K | +9.0% |
Mount Prospect | $352.2K | $380.2K | +7.9% |
Park Ridge | $495K | $526.9K | +6.5% |
Des Plaines | $305K | $291.7K | -4.4% |
Housing Supply in Des Plaines, IL
How many homes are available in Des Plaines, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
167 | 203 | +21.6% |
Summary: The Des Plaines real estate market had 203 homes for sale in March 2024, a 21.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 21 | +40.0% |
2 Bedrooms | 68 | 76 | +11.8% |
3 Bedrooms | 57 | 72 | +26.3% |
4 Bedrooms | 17 | 24 | +41.2% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Des Plaines housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
62 | 52 | -16.1% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in Des Plaines in March 2024, down by 16.1% month-over-month. Of the 52 sold homes, 37% were sold under asking, 12% were sold at asking, and 52% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 14 Days | -50.4% |
Summary: Homes in Des Plaines had an average of 14 days on market in Mar 2024, down by 50.4% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 52 homes were sold in Des Plaines; 87% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.