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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Plainfield Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Plainfield Township, IL

How much do homes in Plainfield Township, IL cost?

Median Sold Price

$359,857

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$36,847(+11.4%)

Key Takeaway

Homes in Plainfield Township have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Plainfield Township was $359,857 in March 2024, up 11.4% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$227.5K
N/A
2 $237.1K$265K
+11.7%
3 $305.6K$335K
+9.6%
4 $385K$450.6K
+17.1%
5+ $475K$580K
+22.1%

Summary: Plainfield Township 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 11.7%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 22.1%.

Median Sold Price Compared To Nearby Cities

Crest Hill
+15.4%
Lockport Township
+11.9%
Plainfield Township
+11.4%
Troy Township
+3.8%
Plainfield
-7.7%

Housing Supply in Plainfield Township, IL

How many homes are available in Plainfield Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
293341+16.4%

Summary: The Plainfield Township real estate market had 341 homes for sale in March 2024, a 16.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 32
-33.3%
2 4451
+15.9%
3 81116
+43.2%
4 132140
+6.1%
5+ 3332
-3.0%

Summary: The Plainfield Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 43.2%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
85850.0%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

45 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plainfield Township, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.

Summary: A total of 85 homes were sold or pending in Plainfield Township in March 2024, the same as the previous month. Of the 85 sold homes, 31% were sold under asking, 16% were sold at asking, and 53% were sold over asking.

Days on Market for Plainfield Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
31 Days26 Days-15.7%

Summary: Homes in Plainfield Township had an average of 26 days on market in Mar 2024, down by 15.7% compared to last year.

Breakdown of Home Sale Times

65 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 85 homes were sold in Plainfield Township; 76% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 9% 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

Newest Listings in Plainfield Township, IL

Nearby Markets to Plainfield Township, IL

What housing markets are near Plainfield Township, IL?