Daybreak home prices climbed 18.2% in 2022 to stand at $575,650. While median sales prices were up sales declined 18.12% and it took longer to sell a home which rose 128% to 16 days.
Daybreak Combined Home Sales
Median Sales Price: $575,650 up 18.12%
Total Sales: 687 down 18.12%
Days on Market: 16 up 128.57%
Single-Family Homes
Single-family home prices showed a strong 18.77% increase to sit at $701,912. But just like the overall market sales declined (18.46%) and it took longer to sell a home (up 200% to 21 days).
Single Family Home Sales
Median Sales Price: $701,912 up 18.77%
Total Sales: 371 down 18.46%
Days on Market: 21 up 200%
Townhomes / Twin Homes
The Townhome / Twin Home real estate market saw prices increase with twin homes up 23.53% to $587,372 and townhomes up 13.41% to $465,000. Total sales were mixed (down 18.05% for townhomes and up 100% for twin homes ) and days on market increased 57% to 11 days.
Townhouse / Twin Home Sales
Townhome Median Sales Price: $465,000 up 13.41%
Townhome Total Sales: 277 down 18.05%
Twin Home Median Sales Price: $587,372 up 23.53%
Twin Home Total Sales: 16 up 100%
Days on Market: 11 up 57.14%
Condos
The Daybreak condo market saw the largest sales price increases (up 26.35% to $353,500), but also the biggest fall in sales (down 39.47%). Days on market increased 73% to stand at 26 days.
Condo Home Sales
Median Sales Price: $353,500 up 26.35%
Total Sales: 23 down 39.47%
Days on Market: 26 up 73.33%
Summary
While home prices increased in 2022, the market is slowing and prices are off their highs which were in the 2nd quarter. Total sales are down and it took longer to sell a home. New construction has certainly slowed, with builders now offering increased incentives to try and lure home buyers.
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