Another Good Quarter for the Daybreak Real Estate Market

Daybreak Home PricesHome prices in Daybreak showed a small increase in the second quarter 2018 with the median sales price rising just 2.07% to $340,000. The number of homes sold showed a healthy 8.97% increase with 170 sales. Somewhat concerning was the number of days on market which increased 37.50% to 22 days, which while still very good, was not a move in the right direction.

Median Sales Price: $340,000 up 2.07%
Total Sales: 170 up 8.87%
Median Days on Market: 22 up 37.5%

Single-family sales prices performed well, increasing 5.88% in the quarter to stand at $412,930, but that’s where the good news stopped. There were fewer homes sold, with 98 sales, a decline of 10.09% and those homes that did sell took 57.14% longer, with median days on market of 22 days.

Townhomes performed better, with the median sales price increasing 5.96% on the back of strong sales which increased by 38.18% to 58. Townhomes did take slightly longer to sell with days on market of 23 days, an increase of 21.05%.

The condo market is always difficult to read given that there are so few sales. The median sales price for a Daybreak condo increased by over 23% to $192,000. There were also more sales which went up 40% to 7, and unlike the other home types, they were selling faster taking a median of just 10 days to go under contract.

Single Family Home Sales
Median Sales Price: $412,930 up 5.88%
Total Sales: 98 down 10.09%
Days on Market: 22 up 57.14%

Townhouse Sales
Median Sales Price: $279,500 up 5.96%
Total Sales: 58 up 38.10%
Days on Market: 23 up 21.05%

Condo Sales
Median Sales Price: $192,000 up 23.87%
Total Sales: 7 up 40%
Days on Market: 10 down 76.19%

Overall April through June 2018 was a good quarter. While the number of sales for single-family homes did slow and sales were taking longer, the townhome and condo markets remained upbeat.

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Posted in: Home Sales

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