Is Kernersville, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kernersville is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Kernersville has remained a Seller's Market.

Key Takeaway

Kernersville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Kernersville, NC

How much do homes in Kernersville, NC cost?

Median Sold Price

$330,465

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$5,465(+1.7%)

Key Takeaway

Homes in Kernersville have sold for 1.7% more than they did a year ago.

Summary: The median home sold price in Kernersville was $330,465 in March 2024, up 1.7% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $114K$120.2K
+5.4%
2 $178.7K$207K
+15.8%
3 $290.1K$308.3K
+6.3%
4 $400K$413.9K
+3.5%
5+ $464.9K$464K
-0.2%

Summary: Kernersville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 0.2%.

Median Sold Price Compared To Nearby Cities

Colfax
+5.3%
Kernersville Township
+5.0%
Deep River Township
+4.0%
Abbotts Creek Township
+3.3%
Kernersville
+1.7%

Housing Supply in Kernersville, NC

How many homes are available in Kernersville, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
209215+2.9%

Summary: The Kernersville real estate market had 215 homes for sale in March 2024, a 2.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 01
+100.0%
2 2524
-4.0%
3 107111
+3.7%
4 6670
+6.1%
5+ 119
-18.2%

Summary: The Kernersville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4364+48.8%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kernersville, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 64 homes were sold or pending in Kernersville in March 2024, up by 48.8% month-over-month. Of the 64 sold homes, 44% were sold under asking, 34% were sold at asking, and 22% were sold over asking.

Days on Market for Kernersville, NC

How long does it take to sell a home in Kernersville, NC?

Average Sale Time

Mar 2023Mar 2024CHANGE
36 Days37 Days+3.6%

Summary: Homes in Kernersville had an average of 37 days on market in Mar 2024, up by 3.6% compared to last year.

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Kernersville are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 64 homes were sold in Kernersville; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% 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 25 Days Ago

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