Is Kannapolis, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Kannapolis has remained a Seller's Market.
Housing Prices in Kannapolis, NC
How much do homes in Kannapolis, NC cost?
Median Sold Price
$297,059
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Kannapolis was $297,059 in March 2024, up 2.8% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97.5K | $156K | +60.0% |
2 Bedrooms | $191.7K | $209K | +9.0% |
3 Bedrooms | $292.2K | $299.9K | +2.6% |
4 Bedrooms | $400K | $381.7K | -4.6% |
5+ Bedrooms | $545K | $531.4K | -2.5% |
Summary: Kannapolis housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 9%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Cities
Atwell Township | $298.5K | $349.6K | +17.1% |
Landis | $275.1K | $293.5K | +6.7% |
Concord | $358K | $369.1K | +3.1% |
Kannapolis | $288.9K | $297K | +2.8% |
China Grove Township | $277.1K | $279.9K | +1.0% |
Housing Supply in Kannapolis, NC
How many homes are available in Kannapolis, NC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
271 | 307 | +13.3% |
Summary: The Kannapolis real estate market had 307 homes for sale in March 2024, a 13.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 62 | 66 | +6.5% |
3 Bedrooms | 150 | 170 | +13.3% |
4 Bedrooms | 39 | 48 | +23.1% |
5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The Kannapolis housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
45 | 70 | +55.6% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Kannapolis in March 2024, up by 55.6% month-over-month. Of the 70 sold homes, 59% were sold under asking, 24% were sold at asking, and 17% were sold over asking.
Days on Market for Kannapolis, NC
How long does it take to sell a home in Kannapolis, NC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 42 Days | -0.5% |
Summary: Homes in Kannapolis had an average of 42 days on market in Mar 2024, down by 0.5% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 70 homes were sold in Kannapolis; 64% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.