Maurice Barnes' Market Report

Kannapolis, NC

Single-Family Homes

Keller Williams Realty | 704-610-4112 | maurice.barnes@kw.com



Kannapolis, NC

Sun Jul 14 2024
This week the median list price for Kannapolis, NC is $295,000 with the market action index hovering around 45. This is less than last month's market action index of 48. Inventory has increased to 125. Click here to stay informed with the Kannapolis market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Kannapolis, NC

Sun Jul 14 2024
This week the median list price for Kannapolis, NC is $295,000 with the market action index hovering around 45. This is less than last month's market action index of 48. Inventory has increased to 125. Click here to stay informed with the Kannapolis market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Kannapolis market.
Median List Price $295,000
Median Price of New Listings $289,000
Per Square Foot $207
Average Days on Market 50
Median Days on Market 35
Price Decreased 49%
Price Increased 1%
Relisted 5%
Inventory 125
Median Rent
Market Action 45
Strong Seller's Market

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
$465,000 2,401 0.25 - 0.5 acre 4 2.5 21 6 2 28
$325,000 1,555 0.25 - 0.5 acre 3 2 56 6 4 35
$279,500 1,248 0.25 - 0.5 acre 3 2 25 5 4 35
$221,250 1,100 8,000 - 10,000 sqft 2 1 82 11 4 17