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 May 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

$339,750

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$15,095(+4.6%)

Key Takeaway

Homes in Kernersville have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Kernersville was $339,750 in May 2024, up 4.6% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $115.1K$120K
+4.3%
2 $191.2K$207K
+8.2%
3 $295K$310.3K
+5.2%
4 $397.3K$404.3K
+1.7%
5+ $464.9K$446K
-4.1%

Summary: Kernersville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 4.1%.

Median Sold Price Compared To Nearby Cities

Kernersville
+4.6%
Kernersville Township
+4.5%
Abbotts Creek Township
+2.9%
Colfax
-4.0%
Deep River Township
-4.1%

Housing Supply in Kernersville, NC

How many homes are available in Kernersville, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
252269+6.7%

Summary: The Kernersville real estate market had 269 homes for sale in May 2024, a 6.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 12
+100.0%
2 3131
0.0%
3 130146
+12.3%
4 8178
-3.7%
5+ 912
+33.3%

Summary: The Kernersville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.3%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6972+4.3%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

23 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. 37.5% of homes here sold below asking price last month.

Summary: A total of 72 homes were sold or pending in Kernersville in May 2024, up by 4.3% month-over-month. Of the 72 sold homes, 38% were sold under asking, 31% were sold at asking, and 32% 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

May 2023May 2024CHANGE
31 Days31 Days-1.2%

Summary: Homes in Kernersville had an average of 31 days on market in May 2024, down by 1.2% compared to last year.

Breakdown of Home Sale Times

49 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

6 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 May 2024, 72 homes were sold in Kernersville; 68% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 8% 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 19 Days Ago

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