Daybreak continued its strong housing market in the 1t quarter of 2021. The median sales price rose over 15% to stand at $435,000, and the number of sales also increased 15% with 206 sales. Homes also sold fast, taking just 9 days to go under contract, which is 75% fast than this time last year.
Daybreak Combined Home Sales
Median Sales Price: $435,000 up 15.94%
Total Sales: 206 up 15.73%
Days on Market: 9 down 76.92%
Single-family home prices broke the $500,000 level for the first time. The median sales price stood at $515,134, and the time taken to sell a home plunging to just 7 days.
Single Family Home Sales
Median Sales Price: $515,134 up 11.08%
Total Sales: 108 up 11.34%
Days on Market: 7 down 80.56%
Townhomes / Twin Homes
Townhomes saw the largest increase in sales prices with the median price climbing 16.95% to $348,500.
Townhouse / Twin Home Sales
Townhome Median Sales Price: $348,500 up 16.95%
Townhome Total Sales: 84 up 13.51%
Twin Home Median Sales Price: $403,881 up 4.74%
Twin Home Total Sales: 3 down 40%
Days on Market: 9 down 78.57%
The Daybreak condo market is pretty small so any figures can show wild swings. The median sales prices for a condo in Daybreak increased 25.49%, this was on the back of 11 sales.
Condo Home Sales
Median Sales Price: $240,000 up 25.49%
Total Sales: 11 up 450%
Days on Market: 37 down 13.95%
With such a tight real estate market new construction homes are in high demand. Builders are facing supply problems with both material and labor shortages applying upward pressure on prices. Builders are struggling with pricing their homes in this climate, with some only setting prices when homes have been completed and they have a better understanding of how much it cost to build.