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 March 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

$375,060

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$31,499(-7.7%)

Key Takeaway

Homes in Plainfield have sold for 7.7% less than they did a year ago.

Summary: The median home sold price in Plainfield was $375,060 in March 2024, down 7.7% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$235K
N/A
2 $258K$272K
+5.4%
3 $341.7K$345.2K
+1.0%
4 $480K$465K
-3.1%
5+ $560K$580K
+3.6%

Summary: Plainfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Cities

Plainfield Township
+11.4%
Na-Au-Say Township
+5.8%
Bolingbrook
+4.8%
Wheatland Township
+4.5%
Plainfield
-7.7%

Housing Supply in Plainfield, IL

How many homes are available in Plainfield, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
260299+15.0%

Summary: The Plainfield real estate market had 299 homes for sale in March 2024, a 15.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 21
-50.0%
2 3540
+14.3%
3 6796
+43.3%
4 123130
+5.7%
5+ 3332
-3.0%

Summary: The Plainfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 43.3%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
7669-9.2%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

11 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. 52.2% of homes here sold above asking price last month.

Summary: A total of 69 homes were sold or pending in Plainfield in March 2024, down by 9.2% month-over-month. Of the 69 sold homes, 32% were sold under asking, 16% were sold at asking, and 52% 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

Mar 2023Mar 2024CHANGE
32 Days28 Days-12.9%

Summary: Homes in Plainfield had an average of 28 days on market in Mar 2024, down by 12.9% compared to last year.

Breakdown of Home Sale Times

52 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

7 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 March 2024, 69 homes were sold in Plainfield; 75% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 10% 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 24 Days Ago

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