Enjoy this Kernersville Market Report for the 3rd QTR 2023. Statistics include Median Sales Price, Inventory Levels, Days on Market, and Months Supply of Inventory. If you need assistance in buying or selling a home in Kernersville, North Carolina, contact Megan Clement with Keller Williams Realty at 336-239-7501.
- Kernersville Market 3rd QTR 2023
- Newest Listings in Kernersville
- Low Inventory Prices Still Rising
- Inventory of Homes & Months Supply by Property Type
- Number of New Listings & Closings
- Median Sales Price & Average Sales Price for 10 year period
- Brunswick Crossing New Construction
- Kernersville Market 3rd QTR 2023 Closed Sales
- Earlier Market Reports
- Kernersville Market 3rd QTR 2023 Summary
- Map of Kernersville
- Request More Information
Kernersville Market 3rd QTR 2023
In the Kernersville Market 3rd QTR 2023, the Average Sales Price for a Single-Family Home is $369,061. This is a slight increase of +0.8% from the 3rd QTR in 2022. For Townhome Listings, the Average Sales Price is $285,290. This is a increase of +11.2% from the 3rd QTR in 2022.
At the end of the 3rd QTR 2023, there are 173 Single-Family homes and 34 Townhomes pending in the Kernersville, NC Real Estate Market.
Inventory at the end of September 2023, there are 123 Single-Family Homes, which is an increase of +29.5% from the 3rd QTR 2022. At the end of the 3rd QTR 2023, there are 37 Townhomes still available for sale. This is an increase of of +131.3% from the 3rd Quarter 2022 when there were only 16 Townhomes available.
In the 3rd QTR 2023, Sellers were receiving 100.4% of their list price for Single-Family Homes and 100% of their list price for Townhomes.
Newest Listings in Kernersville
Low Inventory Prices Still Rising
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.
Below are 2 interactive charts showing the Inventory of Homes and Median Sales Price for Single-Family Homes in Kernersville, North Carolina thru September 2023. You can scroll over the charts to see monthly data points.
Inventory of Homes & Months Supply by Property Type
Kernersville Market 3rd QTR 2023
Inventory Levels for Existing & New
Kernersville Market 3rd QTR 2023
Months Supply by Construction Type
Number of New Listings & Closings
| Primary Year | Number of New Listings | Sales, Number of |
|---|---|---|
| 2013 | 736 | 741 |
| 2014 | 735 | 746 |
| 2015 | 825 | 807 |
| 2016 | 931 | 917 |
| 2017 | 1,098 | 1,121 |
| 2018 | 1,069 | 1,069 |
| 2019 | 1,158 | 1,139 |
| 2020 | 1,128 | 1,190 |
| 2021 | 1,246 | 1,257 |
| 2022 | 1,039 | 1,078 |
| 2023 | 801 | 694 |
Time frame is from Jan 2013 to Sep 2023
Median Sales Price & Average Sales Price for 10 year period
| Primary Year | Sale Price, Median | Sale Price, Average |
|---|---|---|
| 2013 | $150,065 | $169,962 |
| 2014 | $154,000 | $173,901 |
| 2015 | $159,900 | $179,061 |
| 2016 | $168,700 | $186,597 |
| 2017 | $173,000 | $194,229 |
| 2018 | $187,500 | $209,429 |
| 2019 | $219,900 | $224,415 |
| 2020 | $239,450 | $249,250 |
| 2021 | $265,020 | $274,933 |
| 2022 | $315,000 | $327,792 |
| 2023 | $321,300 | $331,695 |
Time frame is from Jan 2013 to Sep 2023
Brunswick Crossing New Construction
Kernersville Market 3rd QTR 2023 Closed Sales
A total of 224 Single-Family properties closed in the Kernersville Market in the 3rd QTR 2023. This is a decrease of -3.4% from the 3rd QTR 2022 when there were 232 closings.
A total of 35 Townhomes closed during the 3rd QTR in 2023. This is a decrease of -37.5% from 3rd QTR 2022 when there were 56 closings.
Of the Single-Family Homes closed, 75% were under contract the first 30 days on the market. The most active price point is in the $300,000 to $399,999 range which made up 40% of the closed properties in the 3rd QTR 2023.
Analysis of the absorption rate indicates an inventory of 2.1 months for Single-Family homes and 3.1 months inventory for Townhomes in the Kernersville Real Estate Market.
Earlier Market Reports
Kernersville Market 3rd QTR 2023 Summary
Kernersville, NC Stats Summary
New listings decreased by -7.9% in Kernersville from the previous year. Pending sales decreased by -19.9%. Closed Sales decreased by -3.4%.
The Median Sales Price for a Single-Family Home was $349,950. The Median Sales Price for a Single-Family Home in the 3rd QTR 2022 was $350,000. The Average Sales Price for a Single-Family Home was $369,061 at the end of the 3rd QTR 2023. This was an increase of +0.8% from the 3rd QTR 2022.
Sellers are receiving 100.4% of their List Price. Inventory levels of Single-Family Homes increased by +29.5% from the 3rd QTR 2022. At the end of the 3rd QTR 2023, 123 Single-Family Homes were available. Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.
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