Is Plainfield, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Plainfield is a seller's market

Buyer's
Market

Difference Since May 2021

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

Key Takeaway

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

How much do homes in Plainfield, IL cost?

Median Sold Price

$415,000

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$60,500(+17.1%)

Key Takeaway

Homes in Plainfield have sold for 17.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $445K$272.5K
-38.8%
2 $212K$240K
+13.2%
3 $305K$320K
+4.9%
4 $385.2K$449.4K
+16.7%
5+ $425K$520K
+22.4%

Median Sold Price Compared To Nearby Cities

Plainfield
+17.1%
Plainfield Township
+15.4%
Romeoville
+15.1%
Wheatland Township
+15.0%
Na-Au-Say Township
+12.1%

How many homes are available in Plainfield, IL?

Number of Homes For Sale

Apr 2022May 2022%
247279+13.0%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 00
0.0%
2 2724
-11.1%
3 6380
+27.0%
4 138158
+14.5%
5+ 1917
-10.5%

Number of Homes Sold

Apr 2022May 2022%
5352-1.9%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

36 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plainfield, you could pay more than the asking price. 69.2% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
10 Days14 Days+46.1%

Breakdown of Home Sale Times

44 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Plainfield 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 Plainfield, IL

Plainfield, IL has 279 homes on the market. Between April 2022 and May 2022, Plainfield, IL real estate market has seen increase in the number of listings by 13%. Listings spent 14 days on the market in May 2022, and had a median list price of $415,000 during the same period. Between April 2022 and May 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went down by 38.8%, prices of 2 bedrooms properties went up by 13.2%, the cost of 3 bedrooms properties went up by 4.9%, prices of 4 bedrooms properties went up by 16.7%, 5 bedrooms properties became 22.4% more expensive. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes have not changed, number of 2 bedrooms homes decreased by 11.1%, volume of 3 bedrooms homes went up by 27%, 4 bedrooms homes inventory increased by 14.5%, the quantity of 5 bedrooms homes went down by 10.5%. Plainfield, IL housing market in May 2022 saw over 36 listings sold above listed price, more than 10 sold at listed price and over 6 sold below.

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