Homes Sold in Howard County – June 2009
ByKokomo – Howard County Sold Prices Continue ↑ Trend
If you have been sitting on the sidelines, waiting for Kokomo home prices to hit the bottom, I hate to tell you this – but you may have missed the boat! (Actually, I don’t hate telling you that. I am elated by the first continuous upward trend of sales prices in Howard County since 2006!)
Last month, for the first time since I’ve been posting here, I researched all home sales in Howard County since January 2006. I plotted the median sold prices for each month and plotted them on a chart so that we could look at price trends over time. If you missed it, you might want to check Homes Sold in Howard County Jan 2006 – May 2009.
I’ve updated the information for the chart below and added two other pieces of information. Now you can see:
- Median Price – half of the house sold above this price and half sold for less
- Average Price – add all the sold prices and divide by the number of houses sold
- Number of Houses Sold – that’s the number below the month (It only shows every other month, but I’ll be sure to let you know what that number is.)
Click the chart below for a larger view!
As you can see, the black line is the median sold price for houses sold in Howard County and the grey line is the average sold price.
What is important to note is that since January, the median sold price has steadily increased. That is very good news for sellers. It means that half the buyers out there are looking at and buying higher priced homes than even last month.
Now, let’s just look at what sold in June…
- 63 houses sold
- $73,500 – median sold price
- $89,321 – average sold price
- 130 – average days on the market
- range of sold prices – $1,000 to $325,000
Take a look at the chart below. It shows the percentage of houses sold within a price range and the number of houses for sale in the same price range:
Click the chart below for a larger view!
Ideally, the percentage of houses sold would be balanced or about the same as the percentage of those offered for sale. As you can see, that is not the case.
Even though homes selling for less than $60,000 still represent the majority (41%) of homes sold last month, I find it interesting that almost 37% of the houses that sold in June, sold for $125,000 or more!
I’m not sure what that means. I do know when we moved here six years ago, the median and average sold price of homes were about even and the hottest selling homes were in the $90,000-$125,000 range. Now there is barely any activity in that price range. We will have to watch it and see how it develops in the months ahead.
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