Maurice Barnes' Market Report
Kannapolis, NC
Single-Family Homes
Keller Williams Realty | 704-610-4112 | maurice.barnes@kw.com
Kannapolis, NC
Sun Oct 06 2024
This week the median list price for Kannapolis, NC is $320,000 with the market action index hovering around 42. This is less than last month's market action index of 43. Inventory has held steady at or around 143.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $320,000 | |
| Median Price of New Listings | $324,900 | |
| Per Square Foot | $211 | |
| Average Days on Market | 66 | |
| Median Days on Market | 42 | |
| Price Decreased | 48% | |
| Price Increased | 3% | |
| Relisted | 2% | |
| Inventory | 143 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $470,000 | 2,284 | 0.25 - 0.5 acre | 4 | 2.5 | 17 | 6 | 4 | 35 |
| $355,500 | 1,811 | 0.25 - 0.5 acre | 3 | 2 | 27 | 4 | 1 | 45 |
| $292,750 | 1,376 | 0.25 - 0.5 acre | 3 | 2 | 63 | 6 | 6 | 38 |
| $220,000 | 1,103 | 0.25 - 0.5 acre | 2 | 1 | 85 | 3 | 8 | 38 |