2018 was another good year for the Daybreak real estate market. Strong home sales pushed up the median sales price to $359,250, up 7.32% when compared to 2017. Healthy new home sales pushed up the number of properties sold in the year by 18.84%, with 656 sales. The only slight negative was Days on Market (amount of time taken to sell a property) which ticked up 4% to a median of 26 days.
Median Sales Price: $359,250 up 7.32%
Total Sales: 656 up 18.84%
Median Days on Market: 26 up 4%
2018 again saw Daybreak feature in the top 20 bestselling master-planned communities located in the U.S. A report by real estate consultancy group RCLCO put Daybreak at number 12 in the country, with 575 home sales (these are new construction sales, not resale and not all new construction sales are listed on the MLS) which was an increase of 25%. Daybreak has appeared in the top 20 a total of 9 times since construction began in 2004. RCLCO Master Planned Community Report.
Single-family home sales were strong in 2018, with a total of 400 sales, up 9.59% on 2017’s numbers. This increase was also reflected in the median sales price which climbed 7.4% to sit at $410,930. The Days on Market numbers were not so positive, showing an increase of 18.18% to 26 days.
Median Sales Price: $410,930 up 7.4%
Total Sales: 400 up 9.59%
Median Days on Market: 26 down 18.18%
Townhomes / Twin Homes
With the increasing problem of home affordability, it’s probably no surprise that townhomes performed so well in 2018. Daybreak introduced several new town/twin home options in 2018, resulting in a surge in sales which were up 34% for townhomes and 157% for twin homes. Median sales prices also climbed, with an increase of 8.63% for townhomes ($277,000) and 3.94% for twin homes ($353,870).
Townhouse / Twin Home Sales
Townhome Median Sales Price: $277,000 up 8.63%
Townhome Total Sales: 209 up 34.84%
Twin Home Median Sales Price: $353,870 up 3.94%
Twin Home Total Sales: 18 up 157.14%
Days on Market: 26 down 3.70%
The Daybreak Condo market is pretty small when compared to single-family homes and townhomes, but this did not stop it returned the best performance of all property types. Median prices went up 18.18% to $195,000 and total sales were up 16% to 29 units.
Median Sales Price: $195,000 up 18.18%
Total Sales: 29 up 16%
Days on Market: 31 down 27.91%
While Daybreak real estate performed well in 2018, most of the best performance occurred at the start of the year. From the 2nd quarter on, median sales prices remained pretty much unchanged for single-family homes, with other less expensive types of property driving the bulk of sales and price appreciation. Since then interest rates have pulled back slightly so it will be interesting to see if this kickstarts the upper end of the market.