$3,432 Closing Credit*
$289,000
1,314 SqFt
1 Bath
Listing Office: Meredith Christy Real Estate
Is Kannapolis, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Kannapolis has remained a Seller's Market.
Key Takeaway
Kannapolis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kannapolis, NC
How much do homes in Kannapolis, NC cost?
Median Sold Price
$306,797
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,706(+2.9%)
Key Takeaway
Homes in Kannapolis have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Kannapolis was $306,797 in November 2024, up 2.9% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $152.5K | $157K | +3.0% |
| 2 Bedrooms | $208K | $215K | +3.4% |
| 3 Bedrooms | $298.9K | $309K | +3.4% |
| 4 Bedrooms | $381.5K | $426K | +11.7% |
| 5+ Bedrooms | $532.9K | $512.6K | -3.8% |
Summary: Kannapolis housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Cities
| Atwell Township | $315K | $350K | +11.1% |
| Landis | $281.1K | $300K | +6.7% |
| Concord | $360.2K | $380.5K | +5.6% |
| China Grove Township | $275K | $285.6K | +3.9% |
| Kannapolis | $298K | $306.7K | +2.9% |
Housing Supply in Kannapolis, NC
How many homes are available in Kannapolis, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 327 | 321 | -1.8% |
Summary: The Kannapolis real estate market had 321 homes for sale in November 2024, a 1.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 58 | 51 | -12.1% |
| 3 Bedrooms | 191 | 193 | +1.0% |
| 4 Bedrooms | 54 | 52 | -3.7% |
| 5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The Kannapolis housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 12.1%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 77 | 65 | -15.6% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kannapolis, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 65 homes were sold or pending in Kannapolis in November 2024, down by 15.6% month-over-month. Of the 65 sold homes, 62% were sold under asking, 26% were sold at asking, and 12% were sold over asking.
Days on Market for Kannapolis, NC
How long does it take to sell a home in Kannapolis, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 39 Days | +30.5% |
Summary: Homes in Kannapolis had an average of 39 days on market in Nov 2024, up by 30.5% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kannapolis are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 65 homes were sold in Kannapolis; 54% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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