The number of Daybreak Homes sold accelerated in the 2nd quarter of 2019 with a total of 229 sales, an increase of more than 25% when compared to 2018 figures. Prices were also on the increase, with the median sales price climbing 9.36% to $369,900. The one downside in the quarter was that homes were taking longer to sell, with the days on market increased to 30%, that’s over 30% longer than in 2018.
Daybreak Home Sales
Median Sales Price: $369,900 up 9.36%
Total Sales: 229 up 25.82%
Days on Market: 30 up 30.43%
Single-Family Homes
The single-family home market performed well in the quarter with median sales prices increasing 6.28% to stand at $435,000. Sales were sharply up, with 137 single-family homes sold, an increase of 31.73%. Homes did take longer to sell, increasing 13% to a median 25 days.
Single Family Home Sales
Median Sales Price: $435,000 up 6.02%
Total Sales: 137 up 31.73%
Days on Market: 25 up 13.64%
Townhomes / Twin Homes
Just like the single-family home market townhomes and twin homes performed well in the 2nd quarter. Townhome median sales price climbed 10.11% and twin home prices were up 6%.
Townhouse / Twin Home Sales
Townhome Median Sales Price: $308,500 up 10.11%
Townhome Total Sales: 74 up 15.63%
Twin Home Median Sales Price: $370,093 up 6%
Twin Home Total Sales: 4 down 42.86%
Days on Market: 32 up 28%
Condos
Condo sales were usually strong, while this is not a big market in Daybreak there were 14 sales this quarter, a 100% gain over 2018. Prices were also on the way up, increasing 5.91% to stand at $203,350.
Condo Sales
Median Sales Price: $203,350 up 5.91%
Total Sales: 14 up 100%
Days on Market: 44 up 300%
Summary
The overall trend for the Daybreak real estate market was good in the 2nd quarter of 2019. Home sales prices were up across all home types, and this on the back of increased home sales. The downside is that homes were taking longer to sell. Daybreak’s focus on smaller more affordable homes probably helped the total sales, after all, it is easier to sell smaller cheaper homes.
I have noticed more builder spec homes coming on the market, which could have also impacted the total sales listed on the MLS, with builders more likely to list spec homes on the MLS than homes constructed with client contracts to buy.
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