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

Since last month, Kokomo has remained a Seller'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

$170,000

$110/sqft

Based on all homes sold in November 2023.

Difference Since Last Month

-$13,900(-7.6%)

Key Takeaway

Homes in Kokomo have sold for 7.6% less than they did a month ago.

Summary: The median home sold price in Kokomo was $170,000 in November 2023, down 7.6% from last month, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 --
N/A
2 $67K$123.7K
+84.7%
3 $200K$170K
-15.0%
4 $201K$265K
+31.8%
5+ $360.9K$233K
-35.4%

Summary: Kokomo housing prices by bedroom type for November 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 84.7%, 3 bedroom homes decreased by 15%, 4 bedroom homes increased by 31.8%, and 5+ bedroom homes decreased by 35.4%.

Median Sold Price Compared To Nearby Cities

Center Township
+20.9%
Taylor Township
+8.3%
Kokomo
-7.6%
Clay Township
-12.6%

Housing Supply in Kokomo, IN

How many homes are available in Kokomo, IN?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
238282+18.5%

Summary: The Kokomo real estate market had 282 homes for sale in November 2023, a 18.5% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 11
0.0%
2 5054
+8.0%
3 109138
+26.6%
4 6273
+17.7%
5+ 1616
0.0%

Summary: The Kokomo housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 26.6%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
5078+56.0%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kokomo, you may be able to get a good deal. 48.7% of homes here sold below asking price last month.

Summary: A total of 78 homes were sold or pending in Kokomo in November 2023, up by 56.0% month-over-month. Of the 76 sold homes, 49% were sold under asking, 25% were sold at asking, and 26% 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

Oct 2023Nov 2023CHANGE
21 Days30 Days+44.9%

Summary: Homes in Kokomo had an average of 30 days on market in Nov 2023, up by 44.9% compared to last month.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were 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 November 2023, 78 homes were sold in Kokomo; 6% of homes were sold within 30 days, 3% 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 9 Days Ago

Newest Listings in Kokomo, IN

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