Daybreak Home Prices Take a Breather in the 3rd Quarter 2017 

Daybreak Home PricesDaybreak home price appreciation took a breather in the 3rd quarter. The median sales price for a home sold in Daybreak stood at $330,251, just 1.93% up when compared to the same time last year, and pretty much flat based on last quarters numbers.

The number of homes coming onto the market jumped in the quarter, with 25% more listings, but the number of home sales declined 10.37%, with 147 sales. Homes also took longer to sell, taking a median of 28 days to go under contract, up 16.67%.

Median Sales Price: $330,251 up 1.93%
Total Sales: 147 down 10.37%
Median Days on Market: 28 up 16.67%

The single-family home section of the market also saw a slowdown. While the median sales price increased 2.75%, it was slightly down on last quarters. Fewer homes sold, with just 97 sales, a decline of 18.49%. Homes also took longer to sell increasing 17.39% to 27 days.

While the median sales prices for townhomes remained pretty much unchanged, there were some positive signs. The number of sales increased 19.44% in the quarter, and the time taken to sell a home dropped 6.67% to stand at 28 days.

Just like in the previous quarter the Daybreak condo market struggled. There were only 6 sales in the quarter, a decline of 33%. The median sales price of $165,000 which while up on last quarter was down 6% on the same time last year (it is worth noting that given the low number of condo sales it is very difficult to read anything into these figures). The median time on market for a condo stood at 69 days, a whopping 122% up.

Single Family Home Sales 
Median Sales Price: $385,300 up 2.75%
Total Sales: 97 down 18.49%
Days on Market: 27 up 17.39%

Townhouse Sales 
Median Sales Price: $261,766 up 2.76%
Total Sales: 43 up 19.44%
Days on Market: 28 down 6.67%

Condo Sales 
Median Sales Price: $165,200 down 6%
Total Sales: 6 down 33.33%
Days on Market: 69 up 122.58%

All in all, this quarter was somewhat of a surprise with all the key indicators going in the wrong direction. While these numbers may provide some relief to home buyers struggling to find a property, it remains to be seen if this is a temporary easing, a leveling off, or something more long term.

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Posted in: Home Sales

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