Living in Kokomo – Buying and Selling Real Estate in Kokomo - Market Updates - Local Happenings and More...

Homes Sold - Feb 2008 -Kokomo & Howard County

By the end of 2007, we saw that the total number of houses sold was up from the prior year and an increasing percentage of homes sold were foreclosures. We also saw that overall market time for houses that sold was about the same as 2006.

In the charts below, you'll find that we have had fewer sales thus far this year than last year, the average price of homes that have sold is down, but the average time on the market is about the same as last year. Of special note is that 52% of all houses that did sell in the first two months of 2008 were foreclosure homes compared with 40% of the homes sold in the first two months last year. This fact alone has a great impact on the overall drop in the average price paid for homes that sold.

Homes Sold in Howard County -
Year to Date Comparison (2008 vs 2007)

Click the chart below for a larger view:

It's really too early to make any judgments on market trends for 2008. We know the market is down from a year ago, but in just these first two months of this year we see some stability. The average asking prices and average sold prices of homes that sold in January and February are virtually identical.

Comparing Home Sales by School Corporations -
February 2008 to February 2007

Click the chart below for a larger view:

The one thing that jumped out at me when I ran these numbers is the fact that the only houses that sold in Northwestern Schools were four foreclosure homes!

In all school corporations, the average sold prices of homes are lower than a year ago. Last month we saw some ups and downs - perhaps we'll see more of that again for March.

Well, that's it for February statistics! As always, if you have any questions or if you would like more information about a particular neighborhood or a specific house, don't hesitate to leave a comment, call me at 765-513-0354 or send me an email.

Homes Sold - Jan 2008 - Kokomo & Howard County

As we move through 2008, we will take a look at home sales in Kokomo and all of Howard County in two ways:

Homes Sold In Howard County - Year to Date Comparison

First, we will compare the number of houses sold in Howard County on a Year to Date basis. In the chart below, we are only comparing Jan. '08 sales to Jan. '07. With just one month of sales, we really can't draw many conclusions about the real estate market. As the year progresses and we have more time and sales under our belts, we will be able to see trends in the market.

Note the difference in the percentage of homes that sold that were foreclosure homes. Last January repossessions were 46% of the homes that sold.  In January '08, 55% of all homes sold in Howard County were repossessions.

Click the chart below for a larger view:

If you've been following the statistics as I've been posting them, you might also note that asking prices and selling prices of homes that have sold continue to be down by 8-9% from last year. Of course much of that can be attributed to the high percentage of foreclosures that sold.

Comparing Homes Sales - January 2008 to January 2007 (by school corporations)

The second way we will look at home sales is according to school corporations. As you can see in the chart below, we look at several real estate statistics - what is on the market right now, houses that sold in January of this year and houses that sold in January of last year.

Click the chart below for a larger view:

Well, that's it for now! As always, if you have any questions or if you would like more information about a particular neighborhood or a specific house, don't hesitate to leave a comment, call me at 765-513-0354 or send me an email.

Homes Sold - Dec 2007 - Kokomo & Howard County

Homes Sold in Howard County - Year to Date Comparison

With 2007 over and done with, let's take a look at home sales in Kokomo and all of Howard County. Overall, the total number of homes sold in 2007 was up 6% from 2006 (1170 vs. 1102).

Most notable however is the sharp rise in the number of foreclosure homes that sold in 2007. If we compare the number of foreclosures that sold in 2006 (274) to the that number sold in 2007 (403), there was a 47% increase in the number of foreclosures that sold in 2007!

Another interesting note is that in 2006, 25% of all homes that sold were foreclosure homes. In 2007, foreclosure homes were 34% of all homes sold.

Click the chart below for a larger view:

If you are into statistics and study the numbers, you will see that final asking prices* and selling prices are down 8-9% from 2006. (*Note: The final asking price may or may not have been the original asking price for the home. There may have been price reductions along the way.)

Comparing Home Sales - December 2007 to December 2006 (by schools)

The chart above gave you a general snapshot of sales for 2007 as a whole compared to 2006 in all of Howard County. The chart below also shows statistics based on school corporations. It shows the number of current listings, the average asking price and the days on the market. It also compares the number of sales in December 2007 versus December 2006.

Click the chart below for a larger view:

As you can tell from the chart, there have been fewer sales and the average prices of homes that sold in all of Howard County are down from a year ago - with the exception of Taylor Schools.

Well, once again, that's it! If you have any questions or if you would like more specific information about a particular neighborhood or a specific house, don't hesitate to leave a comment below, call me at 765-513-0354 or send me an email.

Houses Sold - Kokomo & Howard Co. - Nov. 2007

As 2007 is drawing to an end, home sales in Kokomo and all of Howard County continue to be ahead of the total number of sales last year. As you will see in the charts below, foreclosure homes continue to impact real estate sales and prices.

I've refined the charts a bit since posting the October Market Statistics and I intend to keep a "running" chart for Year to Date Comparison of homes that have sold. That way you will be able to easily follow changes across time.

Another change is that each chart is "clickable." If you have trouble reading the charts, just click them for a larger "easy on the eyes" version.

As you will see in the chart below, repossessions continue to hover in the range of 34% of all closings in Howard County. The average asking prices and average sold prices all homes in the county that sold, are down about 9% from last year. Market time has remained about the same as last year.

Click the chart below for a larger view:

The chart below shows sales of home in Howard County during November - comparing this year to 2006. Once again, it's broken down according to school corporations.

As to be expected, most of the sales were for houses in Kokomo. Also note that almost 50% of all sales were for foreclosure properties. Actually, that's a little better than last year when just over 50% of the houses in Kokomo that sold were repossessions!

Click the chart below for a larger view:

Well, that's it for now! If you have any questions or if you would like more specific information about a particular neighborhood or a specific house, don't hesitate to leave a comment below, call me at 765-513-0354 or send me an email.

Kokomo and Howard County Home Sales Statistics- Oct 2007

You've seen the news about the real estate market across the country - lots of houses for sale, prices declining, etc. I'm sure you know we in Kokomo and Howard County were "kind of" the leaders of the pack. When Delphi declared bankruptcy two years ago it seemed that everything related to real estate came to a screeching halt. Not only that, but Kokomo has historically had very affordable housing and a high number of foreclosures. Well... now it seems the rest of the country is experiencing the same things we have been experiencing for quite some time. The main difference between us and most of "them" is that we never had hugh increases in home prices and home values.

I keep hearing comments about how slow the market is and how nothing is selling; in fact, I feel that way myself some days. But, in actuality, buyers are buying and sellers are selling! If we compare Howard County sales Jan. 1-Oct. 31 of 2007 to sales in the same time period in 2006, you will see that we have actually had more sales this year. The real difference though is in the number of foreclosure homes that sold and their impact on the market as a whole.

The chart below will give you a general idea about how the Howard County looks thus far in 2007 compared to the same time period in 2006.

	Sold 01.01.07 - 10.31.07	Repos	Sold 01.01.06 - 10.31.06	Repos	Change from 2006 -2007
No. Sold	1011	327 (32%)	923	211 (23%)	+10%
Asking Price	$98,905		$107,633		-  8%
Sold Price	$94,137		$103,050		-  9%
DOM*	121		121		none

*DOM = Days On Market

That gives you a general overview of the year to date. Now, let's look at the past month in Howard County.