Kernersville Market – 2nd QTR 2022

In the Kernersville Market – 2nd QTR 2022, the Average Sales Price for a Single-Family Home is $362,805.  This is an increase of +27.3% from the 2nd QTR in 2021.  For Townhome Listings, the Average Sales Price is $250,902.  This is an increase of +9.3% from the 2nd QTR in 2021.

At the end of the 2nd QTR 2022, there are 230 Single-Family homes and 27 Townhomes pending in the Kernersville, NC Real Estate Market.

Inventory at the end of June 2022, there are 76 Single-Family Homes, which is an increase of +94.9% from the 2nd QTR 2021.  At the end of the 2nd QTR 2022, there are 13 Townhomes still available for sale. This is a decrease of -48% from the 2nd Quarter 2021 when there were 25 Townhomes available.

In the 2nd QTR 2022, Sellers were receiving 104.3% of their list price for Single-Family Homes and 104.8% 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.

Below are 2 interactive charts showing the Inventory of Homes and Median Sales Price for Single-Family Homes in Kernersville, North Carolina the end of July 2022.  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.

Kernersville Market – 2nd QTR 2022

Inventory Levels

Kernersville Market – 2nd QTR 2022

Median Sales Price

Bakersfield is located in Guilford County In Kernersville, NC.  Construction began in 2014 and continues thru 2022.  The Builder is Emerald Homes (D.R. Horton).  Home styles are 1 or 2 stories featuring 3 or 4 bedrooms with 2 or 3 garage spaces.

Total living space ranges from 1,900 sq. ft. up to 4,000 sq. ft.  Typical lot size is 1/2 acre with some parcels larger.  Current list prices are in the 600K range.  Schools serving the community are Colfax Elementary School, Northwest Guilford Middle School, and Northwest Guilford High School.

There is a Homeowner’s Association.  Presently, the HOA dues are $100 paid quarterly.

A total of 234 Single-Family properties closed in the Kernersville Market – 2nd QTR in 2022.  This is a decrease of -18.2% from 2021 when there were 286 closings during this time frame.

A total of 26 Townhomes closed during the 2nd QTR in 2022.  This is a decrease of -48% from 2021 when there were 50 closings.

Of the Single-Family Homes closed, 90% 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 32% of the closed properties in the 2nd QTR 2022.

Analysis of the absorption rate indicates an inventory of 1.0 months for Single-Family homes and .8 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 decreased by -1.7% in Kernersville from the previous year.  Pending sales decreased by -17.6%.  Closed Sales decreased by -18.2%.

The Median Sales Price for a Single-Family Home was $ 337,900.  This is an increase of +21.0% from the 2nd QTR 2021.  The Average Sales Price for a Single-Family Home was $ 362,805 at the end of the 2nd QTR 2022.  This was an increase of +27.3% from the 2nd QTR 2021.

Sellers are receiving 104.3% of their List Price.  Inventory levels of Single-Family Homes increased by +94.9% from the 2nd QTR 2021.  At the end of the 2nd QTR 2022, 76 Single-Family Homes were available.  Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.