Plainfield, IL Real Estate Market Report, 10/10/10
Currently, Plainfield, IL has 486 single family homes for sale with a median list price of $223,500. There are 32 homes under contract. The average market time is 191 days. Prices range from $110,900 to $410,000. See all of these listings at http://www.roakehomes.com.
In the last 30 days, 67 homes for sale have closed at a median price of $203,500 and 100 homes have had the listing expire or have been cancelled. Sold homes had an average list price of $263,855 and were on the market, on average, for 170 days. Expired/cancelled Plainfield homes for sale averaged $273,979 with average market time of 242 days.
Of the 67 closings, 34 were distressed with a median sales price of $189,000 and average sales price of $217,622. Average market time was 175 days. The 33 'traditional' home sales had a median price of $215,000 and an average sales price of $252,051 and had 164 days average market time.
This data provides evidence that buyers are still selective in their home search and that they are buying a disproportionate number of distressed homes. The average difference in sales price and the number of sold distressed homes indicates that buyers may prefer foreclosure and short sale properties. This is also a reflection of the large percentage (44.4%) of Plainfield homes for sale that are distressed (216 out of 486 homes for sale are distressed). Correct pricing continues to be crucial to selling a home in the Plainfield, IL real estate market.
If you're thinking of selling your home in Plainfield, contact Steve Roake for a free Comparative Market Analysis.
Also, please take a look at the Shorewood Market Report.
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