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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Plainfield Charter Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Plainfield Charter Township, MI

How much do homes in Plainfield Charter Township, MI cost?

Median Sold Price

$363,500

$259/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$13,500(+3.9%)

Key Takeaway

Homes in Plainfield Charter Township have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Plainfield Charter Township was $363,500 in May 2024, up 3.9% from last year, and the median price per square foot was $259.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $124.9K$345.2K
+176.4%
2 $239.9K$252.4K
+5.2%
3 $315K$336.5K
+6.8%
4 $405K$390K
-3.7%
5+ $617.5K$492.5K
-20.2%

Summary: Plainfield Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 176.4%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 20.2%.

Median Sold Price Compared To Nearby Cities

Alpine Township
+19.0%
Comstock Park
+7.7%
Belmont
+4.3%
Plainfield Charter Township
+3.9%
Rockford
+3.3%

Housing Supply in Plainfield Charter Township, MI

How many homes are available in Plainfield Charter Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7484+13.5%

Summary: The Plainfield Charter Township real estate market had 84 homes for sale in May 2024, a 13.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 1616
0.0%
3 2835
+25.0%
4 2322
-4.3%
5+ 611
+83.3%

Summary: The Plainfield Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 83.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2625-3.8%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plainfield Charter Township, you could pay more than the asking price. 56% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in Plainfield Charter Township in May 2024, down by 3.8% month-over-month. Of the 25 sold homes, 28% were sold under asking, 16% were sold at asking, and 56% were sold over asking.

Days on Market for Plainfield Charter Township, MI

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

Average Sale Time

May 2023May 2024CHANGE
24 Days23 Days-4.2%

Summary: Homes in Plainfield Charter Township had an average of 23 days on market in May 2024, down by 4.2% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 25 homes were sold in Plainfield Charter Township; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% 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 13 Days Ago

Newest Listings in Plainfield Charter Township, MI

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