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 November 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

$316,173

$219/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$22,573(+7.7%)

Key Takeaway

Homes in Des Plaines have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Des Plaines was $316,173 in November 2024, up 7.7% from last year, and the median price per square foot was $219.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $135K$155K
+14.8%
2 $233.7K$255K
+9.1%
3 $338.6K$372.2K
+9.9%
4 $410K$450K
+9.8%
5+ $575K$622K
+8.2%

Summary: Des Plaines housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 8.2%.

Median Sold Price Compared To Nearby Cities

Maine Township
+8.3%
Des Plaines
+7.7%
Park Ridge
+6.3%
Mount Prospect
+5.9%

Housing Supply in Des Plaines, IL

How many homes are available in Des Plaines, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
246234-4.9%

Summary: The Des Plaines real estate market had 234 homes for sale in November 2024, a 4.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2214
-36.4%
2 9996
-3.0%
3 8482
-2.4%
4 2226
+18.2%
5+ 1916
-15.8%

Summary: The Des Plaines housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 36.4%, 2 bedroom homes decreased by 3%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 15.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
8568-20.0%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

26 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. 42.6% of homes here sold below asking price last month.

Summary: A total of 68 homes were sold or pending in Des Plaines in November 2024, down by 20.0% month-over-month. Of the 68 sold homes, 43% were sold under asking, 19% were sold at asking, and 38% 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

Nov 2023Nov 2024CHANGE
13 Days23 Days+69.4%

Summary: Homes in Des Plaines had an average of 23 days on market in Nov 2024, up by 69.4% compared to last year.

Breakdown of Home Sale Times

50 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

2 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 November 2024, 68 homes were sold in Des Plaines; 74% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 3% 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 2 Days Ago

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