Kernersville Market – 1st QTR 2022

At the end of March 2022, the Average Sales Price for a Single-Family Home in the Kernersville Real Estate Market is $339,038.  This is an increase of +32.6% from the 1st QTR in 2021.  For Townhome Listings, the Average Sales Price is $252,689.  This is an increase of +23.6% from the 1st QTR in 2021.

At the end of the 1st QTR 2022, there are 227 Single-Family homes and 50 Townhomes pending in the Kernersville, NC Real Estate Market.

Inventory at the end of March 2022, there are 43 Single-Family Homes, which is an increase of +19.4% from the 1st QTR 2021.  At the end of the 1st QTR 2022, there are 4 Townhomes still available for sale. This is a decrease of -78.9% from the 1st Quarter 2021 when there were 19 Townhomes available.

In the 1st QTR 2022, Sellers were receiving 102.2% of their list price for Single-Family Homes and 102% 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 three years because of buyer demand.

Inventory Levels

Median Sales Price

A total of 181 Single-Family properties closed during the 1st QTR in 2022.  This is a slight increase of +2.3% from 2021 when there were 177 closings during this time frame.

A total of 50 Townhomes closed during the 1st QTR in 2022.  This is an increase of +42.9% from 2021 when there were 35 closings.

Of the Single-Family Homes closed, 79%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 33% of the closed properties in the 1st QTR 2022.

Analysis of the absorption rate indicates an inventory of .5 months for Single-Family homes and .2 months inventory for Townhomes in the Kernersville Real Estate Market.

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

Kernersville, NC Stats Summary

New listings increased by +5% in Kernersville from the previous year.  Pending sales decreased -0.4%.  Closed Sales increased slightly by +2.3%.

The Median Sales Price for a Single-Family Home was $ 339,038.  This is an increase of +32.6% from the 1st QTR 2021.  The Average Sales Price for a Single-Family Home was $ 309,789 at the end of the 1st QTR 2022.  This was an increase of +25.9% from the 1st QTR 2021.

Sellers are receiving 102.2% of their List Price.  Inventory levels of Single-Family Homes increased by +19.4% from the 1st QTR 2021.  At the end of the 1st QTR 2022, 43 Single-Family Homes were available.  Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.