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 5 Days Ago

Newest Listings in Kokomo, IN

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