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 seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Plato Township, IL

How much do homes in Plato Township, IL cost?

Median Sold Price

$510,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$18,459(+3.8%)

Key Takeaway

Homes in Plato Township have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Plato Township was $510,000 in April 2024, up 3.8% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $405K-
N/A
2 $395K$393.9K
-0.3%
3 $360K$415K
+15.3%
4 $514.2K$537.9K
+4.6%
5+ $559.3K$573.7K
+2.6%

Summary: Plato Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 2.6%.

Median Sold Price Compared To Nearby Cities

Campton Hills
+16.9%
Elgin
+14.1%
Pingree Grove
+13.2%
Rutland Township
+5.0%
Plato Township
+3.8%

Housing Supply in Plato Township, IL

How many homes are available in Plato Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6180+31.1%

Summary: The Plato Township real estate market had 80 homes for sale in April 2024, a 31.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 46
+50.0%
3 1822
+22.2%
4 2939
+34.5%
5+ 1013
+30.0%

Summary: The Plato Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes increased by 30%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1114+27.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plato Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 14 homes were sold or pending in Plato Township in April 2024, up by 27.3% month-over-month. Of the 14 sold homes, 29% were sold under asking, 50% were sold at asking, and 21% 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

Apr 2023Apr 2024CHANGE
46 Days27 Days-39.4%

Summary: Homes in Plato Township had an average of 27 days on market in Apr 2024, down by 39.4% compared to last year.

Breakdown of Home Sale Times

10 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 Plato Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 14 homes were sold in Plato Township; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% 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 28 Days Ago

Newest Listings in Plato Township, IL

Nearby Markets to Plato Township, IL

What housing markets are near Plato Township, IL?