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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Plato Township is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Plato Township was a Seller's Market.

Key Takeaway

Plato Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Plato Township, IL

How much do homes in Plato Township, IL cost?

Median Sold Price

$509,990

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$24,990(+5.2%)

Key Takeaway

Homes in Plato Township have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in Plato Township was $509,990 in March 2024, up 5.2% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $405K-
N/A
2 $357K$397K
+11.2%
3 $362K$405K
+11.9%
4 $510.2K$534.9K
+4.9%
5+ $563.6K$564.9K
0.2%

Summary: Plato 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 11.2%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 0.2%.

Median Sold Price Compared To Nearby Cities

Pingree Grove
+17.0%
Elgin
+13.0%
Campton Hills
+12.4%
Rutland Township
+5.6%
Plato Township
+5.2%

Housing Supply in Plato Township, IL

How many homes are available in Plato Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4768+44.7%

Summary: The Plato Township real estate market had 68 homes for sale in March 2024, a 44.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 1320
+53.8%
4 2335
+52.2%
5+ 78
+14.3%

Summary: The Plato Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 53.8%, 4 bedroom homes increased by 52.2%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
910+11.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plato Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Plato Township in March 2024, up by 11.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market for Plato Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
17 Days65 Days+263.0%

Summary: Homes in Plato Township had an average of 65 days on market in Mar 2024, up by 263% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Plato Township has remained consistent over time.

Summary: During March 2024, 10 homes were sold in Plato Township; 10% of homes were sold within 30 days, 80% 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 23 Days Ago

Newest Listings in Plato Township, IL

Nearby Markets to Plato Township, IL

What housing markets are near Plato Township, IL?