Kernersville Market – 1st QTR 2021

The Average Sales Price for Single-Family Homes in the Kernersville Real Estate Market is $ 255,457.  This is a decrease of -2.6% from the 1st QTR in 2020.  For Townhome Listings, the Average Sales Price is $ 204,871.  This is a decrease of -5.4% from the 1st QTR in 2020.

At the end of the 1st QTR 2021, there are 202 Single-Family homes and 47 Townhomes pending in the Kernersville, NC Real Estate Market.

Inventory at the end of March 2021, there are 54 Single-Family Homes and 17 Townhomes still available for sale.

In the 1st QTR 2021, Sellers were receiving 100.9% of their list price for Single-Family Homes and 100.3% of their list price for Townhomes.

In the Kernersville Real Estate Market, the economic principle of Supply is the available Inventory of Homes for Sale and Demand is the Number of Active Buyers in the market.

This heavy buyer demand and the inventory shortage have created multiple offers and driven up home prices.  We will continue to be in a Seller’s Market until the supply of homes comes back to more normal levels.

Below are 2 interactive charts showing the Inventory of Homes and Median Sales Price for Single-Family Homes in Kernersville, North Carolina.  You can scroll over the charts to see monthly data points.  As you can see, the supply of homes has been shrinking drastically, especially in the last five years because of buyer demand.

Inventory Levels

Median Sales Price

A total of 175 Single-Family properties closed during the 1st QTR in 2021.  This is a decrease of -7.4% from 2020 when there were 189 closings.

A total of 34 Townhomes closed during the 1st QTR in 2021.  This is an increase of 9.7% from 2020 when there were 31 closings.

Of the Single-Family Homes closed, 81% were under contract the first 30 days on the market. The most active price point is in the $200,000 to $299,999 range which made up 44% of the closed properties in the 1st QTR 2021.

Analysis of the absorption rate indicates an inventory of .7 months for Single-Family homes and 1.3 months inventory for Townhomes in the Kernersville Real Estate Market.

Welden Village is located in Forsyth County in Kernersville, North Carolina.  Construction began in 2017 and continues for single-family homes.  There is also a section of townhomes in Welden Village that began construction in 2020.

Most of the single-family homes are 3 or 4 bedrooms with 2 1/2 baths.  Square footage is typically around the mid 2,500 sq. ft. range.  Homes feature a 2 car garage space.

The typical lot size is around .11 to .18 acres.

Community amenities include a pool and club house, playground, and dog park.  There is a Homeowner’s Association.

Schools serving the community are Caleb’s Creek Elementary, Southeast Middle School, and Glenn High School.

List prices range in the mid to high 350K range depending on the home’s features and size.

There is a Homeowner’s Association.  There are two HOA fees each $50 paid monthly.

You might like to view the earlier reports from this year for the Kernersville Real Estate Market.

Kernersville, NC Stats

New listings decreased by -12.7% in Kernersville from the previous year.  Pending sales decreased -10.6%.  Closed Sales also decreased by -7.4%.

The Median Sales Price for a Single-Family Home was $ 245,793.  This is an increase of +3.4% from the 1^st QTR 2020.  The Average Sales Price was $ 255,457 at the end of the 1^st QTR 2021.  This was a slight decrease of -2.6% from the 1^st QTR 2020.

Sellers are receiving 100.9% of their List Price.  Inventory levels of Homes for Sales decreased by -50.9% from 2020 levels.  At the end of the 1^st QTR 2021, 54 single-family homes were available.  Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.