Plainfield market times are creeping up as the inventory of homes exceeds the demand from buyers.
In the last 3 months the average market time for a detached single family home in Plainfield was 166 days, but the break down of market time by the number of bedrooms is a little more specific:
- 2 bedroom homes in Plainfield have an average market time of 148 days.
- 3 bedroom Plainfield homes sold in an average of 126 days, considerably shorter than the group average.
- 4 bedroom homes in Plainfield have an average market time of 184 days.
- 5 bedroom Plainfield homes sold in an average of 209 days.
From my interpretation of these numbers is that it seems that 3 bedroom homes sell faster than larger or smaller homes by a little over a month, which could be attributed to buyers entering the market for the first time. Traditionally 4 and 5 bedroom homes tend to be second or third time “step-up” purchases.
The average market time for attached single family homes (townhomes, duplexes, condos, etc.) is 133 days. The breakdown is as follows:
- 1-2 bedrooms have an average market time of 144 days.
- 3 bedrooms have an average market time of 122 days.
It seems that the demand for 3 bedroom attached single family homes in Plainfield is slightly higher than smaller units available on the MLS, as the market time indicates.
Julie Ferenzi | Realtor®
Plainfield Real Estate
630-673-6233
