The 3rd quarter of 2019 saw the number of Daybreak homes sold soar more than 40% when compared to the same quarter in 2018. Despite this strong increase in sales, the median home sales price for a Daybreak home only showed a slight increase with a 2.81% gain to $371,158. There was also a trend for homes taking longer to sell, in fact, the number of days on market increased by over 75% to 42 days.
Daybreak Combined Home Sales
Median Sales Price: $371,158 up 2.81%
Total Sales: 278 up 42.56%
Days on Market: 42 up 75%
The single-family home market following the overall trend in Daybreak, with prices on the rise (up 7.39% to $440,000), the number of homes sold increasing (up 45.30% to 170) but homes sitting on the market longer before selling (43 days up 138%).
Single Family Home Sales
Median Sales Price: $440,000 up 7.39%
Total Sales: 170 up 45.30%
Days on Market: 43 up 138%
Townhomes / Twin Homes
Just like the single-family home market townhomes and twin homes performed well in the 3rd quarter. Townhome median sales price climbed 8.07% and twin home prices were up slightly with a 0.42% increase. Like other property types, homes did take longer to go under contract, taking 44 days up 76%.
Townhouse / Twin Home Sales
Townhome Median Sales Price: $294,900 up 8.07%
Townhome Total Sales: 93 up 55%
Twin Home Median Sales Price: $364,970 up 0.42%
Twin Home Total Sales: 5 down 25%
Days on Market: 44 up 76%
The Daybreak condo market performed somewhat differently than in other areas. While prices climbed 3.71% to $203,325, the total condo sales dropped 28% and condos sold faster down to 21 days a drop of 36%. In must be said that the condo market is very small in Daybreak, so data is more difficult to analyze and extract the underlying trends.
Condo Home Sales
Median Sales Price: $203,325 up 3.71%
Total Sales: 10 down 28.57%
Days on Market: 21 down 36.36%
The Daybreak real estate market remained strong in the 3rd quarter of 2019. Prices and sales climbed even if homes were taking longer to sell. Given the current high prices, Daybreak is more focused on building smaller more affordable homes, which may, in the end, impact the overall median sales price (more smaller home sales reduce the overall sales price). For example, for the 3rd quarter of 2018 the sold price per sq. Ft. was $135.21, in the 3rd quarter of 2019 in was $150,76, which is an 11.5% increase, while the overall median sales price only increased by 2.81%.