Is Kokomo, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Kokomo has remained a Seller's Market.
Housing Prices in Kokomo, IN
How much do homes in Kokomo, IN cost?
Median Sold Price
$175,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Kokomo was $175,000 in March 2024, up 30.1% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $54K | $149.9K | +177.6% |
2 Bedrooms | $69.9K | $99.9K | +42.9% |
3 Bedrooms | $131K | $170K | +29.8% |
4 Bedrooms | $200K | $275K | +37.5% |
5+ Bedrooms | $219.4K | $290K | +32.1% |
Summary: Kokomo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 177.6%, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 29.8%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 32.1%.
Median Sold Price Compared To Nearby Cities
Clay Township | $260K | $405K | +55.8% |
Kokomo | $134.5K | $175K | +30.1% |
Center Township | $117K | $136K | +16.2% |
Housing Supply in Kokomo, IN
How many homes are available in Kokomo, IN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
68 | 127 | +86.8% |
Summary: The Kokomo real estate market had 127 homes for sale in March 2024, a 86.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 18 | 19 | +5.6% |
3 Bedrooms | 31 | 73 | +135.5% |
4 Bedrooms | 14 | 27 | +92.9% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Kokomo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 135.5%, 4 bedroom homes increased by 92.9%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 35 | +218.2% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Kokomo in March 2024, up by 218.2% month-over-month. Of the 35 sold homes, 37% were sold under asking, 31% were sold at asking, and 31% 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 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 23 Days | -51.3% |
Summary: Homes in Kokomo had an average of 23 days on market in Mar 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 35 homes were sold in Kokomo; 11% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.