If you want to buy a Daybreak home then be prepared to pay more. In the 2nd quarter of 2021, the median sales price for a property hit the $500,000 mark for the first time. There were fewer sales but homes sold at the fastest level I have seen, taking a median of just 6 days to go under contract.
Daybreak Combined Home Sales
Median Sales Price: $500,000 up 27.06%
Total Sales: 197 down 16.17%
Days on Market: 6 down 73.91%
Single-Family Homes
The median sales price for a single-family home rose 28.26% over the last year. The really staggering stat is that just compared to the last quarter sales prices went from $515,134 to $600,500, that's in an increase of $85,366 in just 3 months.
Single Family Home Sales
Median Sales Price: $600,500 up 28.26%
Total Sales: 108 down 16.28%
Days on Market: 5 down 61.54%
Townhomes / Twin Homes
Townhomes saw the largest increase in sales prices with the median price climbing 32.06% to $416,000.
Townhouse / Twin Home Sales
Townhome Median Sales Price: $416,000 up 32.06%
Townhome Total Sales: 75 down 17.58%
Twin Home Median Sales Price: $494,252 up 23.78%
Twin Home Total Sales: 4 down 50%
Days on Market: 6 down 78.57%
Condos
The Daybreak condo market is pretty small so any figures can show wild swings. The median sales prices for a condo in Daybreak increased 30.95%, this was on the back of 10 sales. The time taken to sell a condo dropped like a stone taking a median of just 7 days.
Condo Home Sales
Median Sales Price: $275,000 up 30.95%
Total Sales: 10 up 42.86%
Days on Market: 7 down 53.33%
Summary
Home price appreciation for new construction homes always seems to lag the rest of the market. After all, when a sale completes on the MLS it is from 6 months to a year ago (date when the new construction contract is signed and then the home built). That said we are now starting to see these price increases reflect in the sales stats. How long these increases will continue remains to be seen.
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