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

$187,450

$122/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

+$2,450(+1.3%)

Key Takeaway

Homes in Kokomo have sold for 1.3% more than they did a month ago.

Summary: The median home sold price in Kokomo was $187,450 in May 2024, up 1.3% from last month, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $185K$168.7K
-8.8%
3 $152K$194.9K
+28.2%
4 $300K$186K
-38.0%
5+ $615K$358.5K
-41.7%

Summary: Kokomo housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.8%, 3 bedroom homes increased by 28.2%, 4 bedroom homes decreased by 38%, and 5+ bedroom homes decreased by 41.7%.

Housing Supply in Kokomo, IN

How many homes are available in Kokomo, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
62124+100.0%

Summary: The Kokomo real estate market had 124 homes for sale in May 2024, a 100.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1117
+54.5%
3 2966
+127.6%
4 1936
+89.5%
5+ 35
+66.7%

Summary: The Kokomo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 127.6%, 4 bedroom homes increased by 89.5%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
740+471.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

18 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. 45% of homes here sold above asking price last month.

Summary: A total of 40 homes were sold or pending in Kokomo in May 2024, up by 471.4% month-over-month. Of the 40 sold homes, 28% were sold under asking, 28% were sold at asking, and 45% 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

Apr 2024May 2024CHANGE
-5 Days13 Days-368.0%

Summary: Homes in Kokomo had an average of 13 days on market in May 2024, up by 368% compared to last month.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

0 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 May 2024, 40 homes were sold in Kokomo; 25% of homes were sold within 30 days, 0% 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 1 Day Ago

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