Is Des Plaines, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Des Plaines is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, Des Plaines has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Des Plaines, IL

How much do homes in Des Plaines, IL cost?

Median Sold Price

$320,000

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$27,675(+9.5%)

Key Takeaway

Homes in Des Plaines have sold for 9.5% more than they did a year ago.

Summary: The median home sold price in Des Plaines was $320,000 in December 2024, up 9.5% from last year, and the median price per square foot was $220.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $135K$158.5K
+17.4%
2 $232.4K$260K
+11.9%
3 $340K$378.2K
+11.3%
4 $407K$455K
+11.8%
5+ $580K$622K
+7.2%

Summary: Des Plaines housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 7.2%.

Median Sold Price Compared To Nearby Cities

Maine Township
+11.0%
Des Plaines
+9.5%
Park Ridge
+6.2%
Mount Prospect
+5.3%

Housing Supply in Des Plaines, IL

How many homes are available in Des Plaines, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
218188-13.8%

Summary: The Des Plaines real estate market had 188 homes for sale in December 2024, a 13.8% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 1210
-16.7%
2 8979
-11.2%
3 8173
-9.9%
4 2418
-25.0%
5+ 128
-33.3%

Summary: The Des Plaines housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
72720.0%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Des Plaines, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 72 homes were sold or pending in Des Plaines in December 2024, the same as the previous month. Of the 72 sold homes, 56% were sold under asking, 18% were sold at asking, and 26% were sold over asking.

Days on Market for Des Plaines, IL

How long does it take to sell a home in Des Plaines, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
16 Days21 Days+35.5%

Summary: Homes in Des Plaines had an average of 21 days on market in Dec 2024, up by 35.5% compared to last year.

Breakdown of Home Sale Times

56 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 72 homes were sold in Des Plaines; 78% of homes were sold within 30 days, 18% 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 4 Days Ago

Newest Listings in Des Plaines, IL

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