Is Plainfield, IL 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 April 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, IL

How much do homes in Plainfield, IL cost?

Median Sold Price

$375,800

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$24,195(-6.0%)

Key Takeaway

Homes in Plainfield have sold for 6% less than they did a year ago.

Summary: The median home sold price in Plainfield was $375,800 in April 2024, down 6% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$249.5K
N/A
2 $264K$271.5K
+2.8%
3 $340K$349.9K
+2.9%
4 $470.7K$474.1K
+0.7%
5+ $560K$582.8K
+4.1%

Summary: Plainfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 4.1%.

Median Sold Price Compared To Nearby Cities

Plainfield Township
+9.9%
Na-Au-Say Township
+6.3%
Bolingbrook
+6.3%
Wheatland Township
+6.0%
Plainfield
-6.0%

Housing Supply in Plainfield, IL

How many homes are available in Plainfield, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
290360+24.1%

Summary: The Plainfield real estate market had 360 homes for sale in April 2024, a 24.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 3848
+26.3%
3 97131
+35.1%
4 122151
+23.8%
5+ 3229
-9.4%

Summary: The Plainfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 35.1%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes decreased by 9.4%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
7396+31.5%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

37 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Plainfield, you could pay more than the asking price. 38.5% of homes here sold above asking price last month.

Summary: A total of 96 homes were sold or pending in Plainfield in April 2024, up by 31.5% month-over-month. Of the 96 sold homes, 34% were sold under asking, 27% were sold at asking, and 39% were sold over asking.

Days on Market for Plainfield, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
19 Days20 Days+7.5%

Summary: Homes in Plainfield had an average of 20 days on market in Apr 2024, up by 7.5% compared to last year.

Breakdown of Home Sale Times

78 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

6 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 April 2024, 96 homes were sold in Plainfield; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% 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 11 Days Ago

Newest Listings in Plainfield, IL

Nearby Markets to Plainfield, IL

What housing markets are near Plainfield, IL?