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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Plainfield Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Plainfield Township, IL

How much do homes in Plainfield Township, IL cost?

Median Sold Price

$368,657

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$18,662(+5.3%)

Key Takeaway

Homes in Plainfield Township have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in Plainfield Township was $368,657 in October 2024, up 5.3% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $168K$235K
+39.9%
2 $260K$275K
+5.8%
3 $328.7K$342.1K
+4.1%
4 $431.6K$469.9K
+8.9%
5+ $529.1K$580K
+9.6%

Summary: Plainfield Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.9%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 9.6%.

Median Sold Price Compared To Nearby Cities

Crest Hill
+10.7%
Troy Township
+8.4%
Lockport Township
+5.4%
Plainfield Township
+5.3%
Plainfield
+2.5%

Housing Supply in Plainfield Township, IL

How many homes are available in Plainfield Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
440510+15.9%

Summary: The Plainfield Township real estate market had 510 homes for sale in October 2024, a 15.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 89103
+15.7%
3 144160
+11.1%
4 176208
+18.2%
5+ 3139
+25.8%

Summary: The Plainfield Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 25.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
115130+13.0%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

37 Homes Were Sold
At Asking

41 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plainfield Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 130 homes were sold or pending in Plainfield Township in October 2024, up by 13.0% month-over-month. Of the 130 sold homes, 40% were sold under asking, 28% were sold at asking, and 32% were sold over asking.

Days on Market for Plainfield Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days21 Days+1.9%

Summary: Homes in Plainfield Township had an average of 21 days on market in Oct 2024, up by 1.9% compared to last year.

Breakdown of Home Sale Times

106 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 130 homes were sold in Plainfield Township; 82% of homes were sold within 30 days, 15% 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 16 Days Ago

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