Daybreak Home Prices Continue Upwards in the 1st Quarter 2018

Daybreak Home PricesDaybreak home sales prices continued their upwards climb in the 1st quarter 2018. The 10.15% increase pushed up the median sales price to $358,000 across all home types. While prices continued upwards other indicators were not so positive.

The number of sales declined 11.43% while there was a flood of new listings (especially townhomes) which climbed over 30%. All this activity pushed up the time taken to sell a home to a median of 39 days, 25.81% longer than in the 1st quarter 2017.

Median Sales Price: $358,000 up 10.15%
Total Sales: 117 down 11.43%
Median Days on Market: 39 up 25.81%
New Listings: 208 up 30.82%

If you own a single-family home in Daybreak then the quarters median sales price of $415,000, a 16% increase will be welcome news. There was a slight increase in the number of homes coming on the market (up 4.50%), and fewer sales which were down 11.94%. This contributed to homes taking longer to sell, pushing up the days on market by 21.88% to 39 days.

There was a marked increase in the number of townhome listings coming on the market, climbing over 60%, and the total number of sales also climbed, going up 9.38%. The median sales price increased to $269,000 (up 6.53%), while the time taken to sell a home fell over 86%.

There were only 4 condo sales in the quarter, so the increase in median sales price of 14.19% must be taken with a pinch of salt. There were more condo listings coming onto the market (up 200%) and the time taken to sell a home also increased by 26.83%.

Single Family Home Sales
Median Sales Price: $415,000 up 16.90%
Total Sales: 75 down 11.94%
Days on Market: 39 up 21.88%
New Listings: 116 up 4.50%

Townhouse Sales
Median Sales Price: $269,000 up 6.53%
Total Sales: 35 up 9.38%
Days on Market: 43 down 86.96%
New Listings: 71 up 61.36%

Condo Sales
Median Sales Price: $188,408 up 14.19%
Total Sales: 4 down 33.33%
Days on Market: 52 up 26.83%
New Listings: 12 up 200%

The Daybreak real estate market was a bit of a mixed bag in the 1st quarter 2018. While median sales prices were up across the board other indicators were not so positive. The good news for buyers is that there were more homes coming on the market. But if you are a seller this means there is more competition, and your home could take longer to sell.

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Posted in: Home Sales

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