Is Kokomo, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kokomo is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Kokomo was a Buyer's Market.

Key Takeaway

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

Housing Prices in Kokomo, IN

How much do homes in Kokomo, IN cost?

Median Sold Price

$181,550

$123/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

-$103,450(-36.3%)

Key Takeaway

Homes in Kokomo have sold for 36.3% less than they did a month ago.

Summary: The median home sold price in Kokomo was $181,550 in April 2024, down 36.3% from last month, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 $99.9K$144.5K
+44.6%
3 $213.5K$171.2K
-19.8%
4 $435K$250K
-42.5%
5+ $285K$285K
0.0%

Summary: Kokomo housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 44.6%, 3 bedroom homes decreased by 19.8%, 4 bedroom homes decreased by 42.5%, and 5+ bedroom homes did not change.

Housing Supply in Kokomo, IN

How many homes are available in Kokomo, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
90176+95.6%

Summary: The Kokomo real estate market had 176 homes for sale in April 2024, a 95.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1327
+107.7%
3 4591
+102.2%
4 2550
+100.0%
5+ 78
+14.3%

Summary: The Kokomo 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 107.7%, 3 bedroom homes increased by 102.2%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
752+642.9%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kokomo, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 52 homes were sold or pending in Kokomo in April 2024, up by 642.9% month-over-month. Of the 52 sold homes, 37% were sold under asking, 17% were sold at asking, and 46% were sold over asking.

Days on Market for Kokomo, IN

How long does it take to sell a home in Kokomo, IN?

Average Sale Time

Mar 2024Apr 2024CHANGE
22 Days-3 Days-113.3%

Summary: Homes in Kokomo had an average of -3 days on market in Apr 2024, down by 113.3% compared to last month.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 52 homes were sold in Kokomo; 10% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 0% 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 10 Days Ago

Newest Listings in Kokomo, IN

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