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 June 2023

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.

Housing Prices in Plainfield, IL

How much do homes in Plainfield, IL cost?

Median Sold Price

$382,476

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$2,510(+0.7%)

Key Takeaway

Homes in Plainfield have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Plainfield was $382,476 in June 2024, up 0.7% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 -$249.5K
N/A
2 $265.2K$280K
+5.6%
3 $340.5K$350K
+2.8%
4 $461.4K$473K
+2.5%
5+ $560K$585K
+4.5%

Summary: Plainfield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Cities

Bolingbrook
+11.4%
Plainfield Township
+9.0%
Wheatland Township
+7.4%
Na-Au-Say Township
+5.6%
Plainfield
+0.7%

Housing Supply in Plainfield, IL

How many homes are available in Plainfield, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
387438+13.2%

Summary: The Plainfield real estate market had 438 homes for sale in June 2024, a 13.2% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 11
0.0%
2 5667
+19.6%
3 132135
+2.3%
4 171196
+14.6%
5+ 2739
+44.4%

Summary: The Plainfield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 44.4%.

Number of Homes Sold

May 2024Jun 2024CHANGE
120117-2.5%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

70 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. 59.8% of homes here sold above asking price last month.

Summary: A total of 117 homes were sold or pending in Plainfield in June 2024, down by 2.5% month-over-month. Of the 117 sold homes, 34% were sold under asking, 6% were sold at asking, and 60% were sold over asking.

Days on Market for Plainfield, IL

How long does it take to sell a home in Plainfield, IL?

Average Sale Time

Jun 2023Jun 2024CHANGE
15 Days16 Days+10.3%

Summary: Homes in Plainfield had an average of 16 days on market in Jun 2024, up by 10.3% compared to last year.

Breakdown of Home Sale Times

100 Homes Were Sold
Under 30 Days

15 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.

Summary: During June 2024, 117 homes were sold in Plainfield; 85% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

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

Report Updated 26 Days Ago

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