Is Kannapolis, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Kannapolis has remained a Seller's Market.
Key Takeaway
Kannapolis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kannapolis, NC
How much do homes in Kannapolis, NC cost?
Median Sold Price
$295,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Kannapolis have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Kannapolis was $295,000 in April 2024, up 1.8% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $157K | +74.4% |
| 2 Bedrooms | $191.5K | $214K | +11.7% |
| 3 Bedrooms | $294.5K | $299.9K | +1.8% |
| 4 Bedrooms | $397.5K | $385K | -3.1% |
| 5+ Bedrooms | $545K | $530K | -2.8% |
Summary: Kannapolis housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 74.4%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes decreased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Atwell Township | $300K | $341K | +13.7% |
| Landis | $277.6K | $293.5K | +5.7% |
| Concord | $355.1K | $374.4K | +5.5% |
| Kannapolis | $289.6K | $295K | +1.8% |
| China Grove Township | $277K | $280K | +1.1% |
Housing Supply in Kannapolis, NC
How many homes are available in Kannapolis, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 304 | 317 | +4.3% |
Summary: The Kannapolis real estate market had 317 homes for sale in April 2024, a 4.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 67 | 69 | +3.0% |
| 3 Bedrooms | 171 | 169 | -1.2% |
| 4 Bedrooms | 46 | 59 | +28.3% |
| 5+ Bedrooms | 17 | 15 | -11.8% |
Summary: The Kannapolis housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 3%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 28.3%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 79 | +1.3% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kannapolis, you may be able to get a good deal. 59.5% of homes here sold below asking price last month.
Summary: A total of 79 homes were sold or pending in Kannapolis in April 2024, up by 1.3% month-over-month. Of the 79 sold homes, 59% were sold under asking, 22% were sold at asking, and 19% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 33 Days | -2.7% |
Summary: Homes in Kannapolis had an average of 33 days on market in Apr 2024, down by 2.7% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kannapolis are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 79 homes were sold in Kannapolis; 73% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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Copyright © 2024 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.