Real Estate Market Review -
Kokomo’s Derbyshire
By
Kokomo’s Derbyshire – Under the Looking Glass
Do you live in Derbyshire or want to live in Derbyshire? Are you just curious about what houses are selling for in different Kokomo neighborhoods? Then check out this chart and information about houses for sale in Derbyshire, those that have sold and those that haven’t sold.
Neighborhood Market Watch – Derbyshire
(Click the chart for a larger view.)
As you can see, there are three parts to this chart and I will explain each part separately.
Homes Sold in Derbyshire
In the past year, one home sold in Derbyshire. It sold for $169,900 in 84 days on the market.
Homes For Sale in Derbyshire
Right now, there are four houses offered for sale in Derbyshire. Their listed prices range from $124,900 to $225,000, with the average price of $171,175 and a median price of $167,400. The median price means that two of the houses are listed for more than $167,400 and two are listed for less than $167,400.
Some of these homes are newly listed, but others have been on the market for more than a year.**
Houses in Derbyshire That Didn’t Sell
Two houses offered for sale over the past year did not sell. These homes were priced at $84,900 and $225,000. Since there were only two houses offered for sale and there is such a huge difference in the asking prices, figuring an average asking price for these homes would be meaningless. I did figure the median asking price just for comparison to what has sold in Derbyshire and what is currently on the market. As in using an average price for these two houses, the median price is of very little value.
Both of these houses were on the market for six months – waiting to sell.**
Out of curiosity, I checked the tax records to see if the house above ($84,900) had actually sold. And yes it did! It sold for $77,900 last December. I’m not sure why it wasn’t in our MLS. (The listing agent is out of Indy, so perhaps he didn’t think he needed to enter the sold price in our MLS or maybe he sold it to someone out of Indianapolis.)
**Note: The actual “on the market” time any of these house may be more than these figures show. Some houses may have been on the market and didn’t sell in the original listing period. They may have been re-listed – sometimes with the same agent, sometimes with a different company. When that happens, houses start over as a new listing with zero days on the market.
Putting It All Together in Derbyshire
Each section above is color coded for a reason.
- Green for Go - This is the reality of what buyers will pay for a house in Derbyshire. And in this case, it is what one buyer was willing to pay for one house in Derbyshire.
- Orange for Caution – This is the land of hope – for the seller. They hope they get this price for their house. The house may or may not be priced correctly, only a current appraisal or comparative market analysis can answer that question.
- Red for Stop – Don’t even go there! The asking prices on these houses were rejected by the market – rejected by buyers.
The most important part of the chart for both buyers and sellers is Homes Sold in Derbyshire. This shows the true market value of homes in Derbyshire – what buyers were willing to pay for houses in Derbyshire.
If you are just curious about what homes in Derbyshire are selling for, information like this may be enough to satisfy your curiosity.
If you are considering buying a house or selling a house in Derbyshire, you need a “just right” pricing evaluation. You need a thorough Competitive Market Analysis (CMA). With so little activity in Derbyshire, considerable research is needed to come-up with “just right” pricing. (See below for information about how you can get a “just right” pricing evaluation for a home.)
Are you curious about home prices in other Howard County/Kokomo neighborhoods? All you have to do is go to Neighborhood Watch and enter your contact information and the name of the subdivision. If the area you are interested in is not in a subdivision or you don’t know the name of the subdivision, just enter an address instead and I will set up a Neighborhood Watch for the area surrounding that address.
Need more information about a house in Derbyshire? Need a “just right” pricing evaluation for a home in Derbyshire? Call Betty at 765-513-0354 or send me an email.
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