Like the rest of the Salt Lake Housing Market, Daybreak had a really strong 3rd quarter of 2020. The median sales price for a Daybreak property was spot on $400,000, which was a 5.26% gain over the same time in 2019. The number of properties sold climbed steeply, going up 24.90% with 321 sales. Last but not least homes sold faster, taking just 26 days to go under contract, an improvement of over 40%.
Daybreak Combined Home Sales
Median Sales Price: $400,000 up 5.26%
Total Sales: 321 up 24.90%
Days on Market: 26 down 40.9%
Single-family home prices continued to climb in the quarter, with the median sales price hitting $475,000, an increase of 5.91%. Sales were also up, with 177 sales, an increase of 14.94%. Single-family homes also sold faster, taking 26 days to sell, an improvement of 40.91%.
Single Family Home Sales
Median Sales Price: $475,000 up 5.91%
Total Sales: 177 up 14.94%
Days on Market: 26 down 40.91%
Townhomes / Twin Homes
Like other property types, the townhome/twin home market performed well in the quarter. Sales prices climbed 8.25% for townhomes, and 4.96% for twin homes. Townhome sales stood out, climbing over 35% with 122 sales.
Townhouse / Twin Home Sales
Townhome Median Sales Price: $325,450 up 8.52%
Townhome Total Sales: 122 up 35.56%
Twin Home Median Sales Price: $383,077 up 4.96%
Twin Home Total Sales: 6 up 20%
Days on Market: 24 down 50%
The Daybreak condo market was the strongest segment in regard to sales price increases, climbing 7.93% in the quarter. Sales doubles in the quarter, but condos did take slightly longer to sell with a median of 23 days.
Condo Home Sales
Median Sales Price: $219,450 up 7.93%
Total Sales: 16 up 100%
Days on Market: 23 up 9.52%
Daybreak certainly rebounded from the COVID impacted slowdown seen earlier in the year, with all segments of the property market performing well. With Winter approaching COVID cases are back on the increase and what impact this will have on the market remains to be seen.