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 October 2023

Since last year, 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

$185,000

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$17,500(+10.4%)

Key Takeaway

Homes in Kokomo have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in Kokomo was $185,000 in October 2024, up 10.4% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $53K$69.4K
+31.0%
2 $85K$124.9K
+47.0%
3 $171K$184.9K
+8.2%
4 $225K$298.5K
+32.7%
5+ $374K$320K
-14.4%

Summary: Kokomo housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31%, 2 bedroom homes increased by 47%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 32.7%, and 5+ bedroom homes decreased by 14.4%.

Housing Supply in Kokomo, IN

How many homes are available in Kokomo, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
310330+6.5%

Summary: The Kokomo real estate market had 330 homes for sale in October 2024, a 6.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 14
+300.0%
2 5946
-22.0%
3 163178
+9.2%
4 6983
+20.3%
5+ 1819
+5.6%

Summary: The Kokomo housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes decreased by 22%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 5.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
9092+2.2%

Asking Price vs. Sold Price

45 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

21 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. 49.5% of homes here sold below asking price last month.

Summary: A total of 92 homes were sold or pending in Kokomo in October 2024, up by 2.2% month-over-month. Of the 91 sold homes, 49% were sold under asking, 27% were sold at asking, and 23% 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 2023Oct 2024CHANGE
21 Days24 Days+14.7%

Summary: Homes in Kokomo had an average of 24 days on market in Oct 2024, up by 14.7% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 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 October 2024, 92 homes were sold in Kokomo; 8% of homes were sold within 30 days, 4% 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 20 Days Ago

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