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 October 2023

At the same time last year, Plato Township was a Neutral 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

$533,990

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$33,866(+6.8%)

Key Takeaway

Homes in Plato Township have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Plato Township was $533,990 in October 2024, up 6.8% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $395K$384.9K
-2.5%
3 $386.5K$428K
+10.7%
4 $516K$567.7K
+10.0%
5+ $539.9K$599.4K
+11.0%

Summary: Plato Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 11%.

Median Sold Price Compared To Nearby Cities

Elgin
+12.1%
Campton Hills
+11.8%
Plato Township
+6.8%
Rutland Township
+4.5%
Pingree Grove
0%

Housing Supply in Plato Township, IL

How many homes are available in Plato Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
67670.0%

Summary: The Plato Township real estate market had 67 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 1518
+20.0%
4 3435
+2.9%
5+ 1411
-21.4%

Summary: The Plato 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 decreased by 25%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 21.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1712-29.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plato Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Plato Township in October 2024, down by 29.4% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% 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

Oct 2023Oct 2024CHANGE
61 Days40 Days-33.6%

Summary: Homes in Plato Township had an average of 40 days on market in Oct 2024, down by 33.6% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were 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 October 2024, 12 homes were sold in Plato Township; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% 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

Newest Listings in Plato Township, IL

Nearby Markets to Plato Township, IL

What housing markets are near Plato Township, IL?