Is Plainfield, IN 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 May 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, IN

How much do homes in Plainfield, IN cost?

Median Sold Price

$313,873

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,873(+1.2%)

Key Takeaway

Homes in Plainfield have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Plainfield was $313,873 in May 2024, up 1.2% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $163K$121.5K
-25.5%
2 $258K$262K
+1.6%
3 $270.7K$290K
+7.1%
4 $370K$380K
+2.7%
5+ $458.8K$477.5K
+4.1%

Summary: Plainfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.5%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 4.1%.

Median Sold Price Compared To Nearby Cities

Decatur Township
+3.9%
Washington Township
+3.4%
Avon
+3.1%
Plainfield
+1.2%
Guilford Township
-4.8%

Housing Supply in Plainfield, IN

How many homes are available in Plainfield, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
145146+0.7%

Summary: The Plainfield real estate market had 146 homes for sale in May 2024, a 0.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1615
-6.3%
3 6364
+1.6%
4 4042
+5.0%
5+ 2625
-3.8%

Summary: The Plainfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 3.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3848+26.3%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plainfield, you may be able to get a good deal. 54.2% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Plainfield in May 2024, up by 26.3% month-over-month. Of the 48 sold homes, 54% were sold under asking, 31% were sold at asking, and 15% were sold over asking.

Days on Market for Plainfield, IN

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

Average Sale Time

May 2023May 2024CHANGE
28 Days47 Days+68.1%

Summary: Homes in Plainfield had an average of 47 days on market in May 2024, up by 68.1% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

9 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 May 2024, 48 homes were sold in Plainfield; 67% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 15% 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 1 Day Ago

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