Is Des Plaines, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Des Plaines is a seller's market

Buyer's
Market

Difference Since December 2021

Since last year, Des Plaines has remained a Seller's Market.

Key Takeaway

Des Plaines is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Des Plaines, IL cost?

Median Sold Price

$300,000

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$9,500(+3.3%)

Key Takeaway

Homes in Des Plaines have sold for 3.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $120K$134K
+11.7%
2 $219.9K$240.6K
+9.4%
3 $320K$335.5K
+4.8%
4 $391K$399.9K
+2.3%
5+ $434K$471K
+8.5%

Median Sold Price Compared To Nearby Cities

Park Ridge
+5.3%
Mount Prospect
+4.4%
Des Plaines
+3.3%
Maine Township
+2.0%

How many homes are available in Des Plaines, IL?

Number of Homes For Sale

Nov 2022Dec 2022%
192152-20.8%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 129
-25.0%
2 5642
-25.0%
3 7961
-22.8%
4 3833
-13.2%
5+ 77
0.0%

Number of Homes Sold

Nov 2022Dec 2022%
6740-40.3%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Des Plaines, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
32 Days29 Days-8.2%

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Des Plaines are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Des Plaines, IL

Number of homes for sale in Des Plaines, IL real estate market have reached 152. The number of homes for sale in Des Plaines, IL decreased by 20.8% between November 2022 and December 2022. The median list price of listings available in December 2022 was $300,000, while the average time on the real estate market was 29 days. Between November 2022 and December 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 11.7%, 2 bedrooms properties became 9.4% more expensive, prices of 3 bedrooms properties increased by 4.8%, prices of 4 bedrooms properties went up by 2.3%, prices of 5 bedrooms properties increased by 8.5%. Housing inventory have changed in this real estate market: number of 1 bedroom homes decreased by 25%, number of 2 bedrooms homes decreased by 25%, number of 3 bedrooms homes decreased by 22.8%, volume of 4 bedrooms homes went down by 13.2%, number of 5 bedrooms homes remained the same. In December 2022, from all listings sold in Des Plaines, IL there were more than 10 sold above asking price, over 25 sold below and more than 5 were sold right at the asked price.

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