Kernersville Market – 2nd QTR 2021

The Average Sales Price for a Single-Family Home in the Kernersville Real Estate Market is $ 285,341.  This is an increase of +9.1% from the 2nd QTR in 2020.  For Townhome Listings, the Average Sales Price is $230,080.  This is an increase of +2.1% from the 2nd QTR in 2020.

At the end of the 2nd QTR 2021, there are 249 Single-Family homes and 56 Townhomes pending in the Kernersville, NC Real Estate Market.

Inventory at the end of June 2021, there are 61 Single-Family Homes, which is a decrease of -33.7% from the 2nd QTR 2020.  At the end of the 2nd QTR 2021, there are 22 Townhomes still available for sale.  This is a decrease of -46.3% from the 2nd QTR 2020.

In the 2nd QTR 2021, Sellers were receiving 102.3% of their list price for Single-Family Homes and 100.7% 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 281 Single-Family properties closed during the 2nd QTR in 2021.  This is an increase of +14.2% from 2020 when there were 246 closings.

A total of 49 Townhomes closed during the 2nd QTR in 2021.  This is an increase of +96% from 2020 when there were 25 closings.

Of the Single-Family Homes closed, 89% 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 41% of the closed properties in the 2nd QTR 2021.

Analysis of the absorption rate indicates an inventory of .8 months for Single-Family homes and 1.5 months inventory for Townhomes in the Kernersville Real Estate Market.

Welden Village is located in Forsyth County in Kernersville, North Carolina.  Construction of townhomes in the subdivision began in 2020 thru 2021.  Currently, there are two neighborhoods of townhomes in Welden Village, The Townes of Springvale Hill and Welden Ridge.

The Townes of Springvale Hill are 2 stories with 3 bedrooms and 2 1/2 baths.  Exterior finishes are brick and vinyl.  The typical living space ranges from 1,400 sq. ft. up to 2,100 sq. ft.  The townhomes offer a 1 or 2 car garage spaces.  Current list prices are in the mid 200K range up to 275K.  There is a Homeowner’s Association with 2 monthly HOA fees.

Welden Ridge townhomes are 1 1/2 stories with 3 bedrooms and 3 full baths.  Exterior finish is brick.  The typical living space ranges from 2,000 sq. ft. up to 2,400 sq. ft.  The Townhomes feature two car garage spaces.  There is a Homeowner’s Association with 2 monthly HOA Fees.  Current list prices are from $396,900 to $401,900.

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.

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 +11.8% in Kernersville from the previous year.  Pending sales decreased -2.0%.  Closed Sales increased by +14.2%.

The Median Sales Price for a Single-Family Home was $ 279,620.  This is an increase of +16.5% from the 2nd QTR 2020.  The Average Sales Price for a Single-Family Home was $ 285,341 at the end of the 2nd QTR 2021.  This was an increase of +9.1% from the 2nd QTR 2020.

Sellers are receiving 102.3% of their List Price.  Inventory levels of Homes for Sales decreased by -33.7% from 2020 levels.  At the end of the 2nd QTR 2021, 61 single-family homes were available.  Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.