The 2nd quarter 2016 was another good quarter for the Daybreak real estate market, with the median home sales price climbing 4.30% to stand at $310,000. This price increase was on the back of increased home sales of 175, up an impressive 10.76%.
The amount of time it took to put an home under contract dropped to a median of 19 days, a sure sign of a really strong real estate market, and nearly 60% better than the same time last year.
Median Sales Price: $310,000 up 4.20%
Total Sales: 175 up 10.76%
Median Days on Market: 19 down 57.78%
When we break down the sales by type of property, we see that the median sales price was strong across all home types, with single family homes up 8.90%, Townhomes up 8.55%, and condos up 5.21%. The total sales figures told a slightly different story, with strong performances from single family homes up 7.41% and townhomes up 25.64%, on the other hand the sale of condos actually declined 9.09%. There was a similar story when we look at days on market, with good figures for single family homes and townhomes, but a not so impressive 78 days for condos.
Single Family Home Sales
Median Sales Price: $357,750 up 8.90%
Total Sales: 116 up 7.41%
Days on Market: 16 down 62.79%
Townhouse Sales
Median Sales Price: $235,000 up 8.55%
Total Sales: 49 up 25.64%
Days on Market: 27 down 38.64%
Condo Sales
Median Sales Price: $171,500 up 5.21%
Total Sales: 10 down 9.09%
Days on Market: 78 up 73.33%
To sum up, the 2nd quarter 2016 was a good quarter for the Daybreak real estate market, with most criteria returning impressive figures. The only exception to this was for condos, which showed good median sales price improvements, but declined in total sales and days on market.
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