The Fraser Valley Real Estate Board recently published the MLS® statistics for the real estate market, among others, for June 2017.
In this post, we’re going to take a close look at key numbers for the condominium market for June 2017 – including sales, new listings, active listings, as well as benchmark, median and average prices for condominiums for sale in .
[cleveryoutube video=”” style=”1″]We're also going to see what kind of shape the condominium market in was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.
I think one reason demand has continued to be so strong for our region is that we have such diverse, robust inventory to help buyers find the right home even in a more complex market like this one.
Gopal Sahota, President of the FVREB – President, Fraser Valley Real Estate Board
And we're going to look at how the Abbotsford MLS® numbers for June 2017 compare with the numbers for June 2016 and for May 2017.
Highlights of FVREB MLS® Data on Condominium Listings and Sales
Here's a high-level snapshot of listing and sales activity for condominiums in June 2017.
- 149 Sales
- 126 New Listings
- 112 Active listings
- $244,300 Benchmark Price
- $228,000 Median Price
- $245,934 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 133.04%, indicating that it was a Seller's Market for condominiums in in June 2017 (click on the link learn more about local housing market ratios on the BC Real Estate Association blog).
Please note: If you want the most accurate and up-to-date data on MLS® listing and sales activity for condominiums, you need to speak with a real estate agent.
Condominium Market Changes
Following are some of the highlights for condominiums for sale in in June 2017:
- There were 149 condominium sales in in June 2017 – an increase of 52.04% over June 2016 and an increase of 23.14% over May 2017
- There were 126 new listings of condominiums in in June 2017 – a decrease of -8.03% over June 2016 and a decrease of -22.22% over May 2017
- The average price of a condominium in in June 2017 was $245,934 – an increase of 38.35% over June 2016 and an increase of 9.02% over May 2017
If you're really keen to understand what happened in the market for condominium in in June 2017, make sure you check out the next section.
Detailed Overview of the Market for Condominiums in
Check out the table below for more detailed information on what happened in the condominium market in June 2017 and see how it compares with the previous year and previous month.
Condominium Stats
| Metric | Jun 2017 | Jun 2016 | % Change | May 2017 | % Change |
|---|---|---|---|---|---|
| Sales | 149 | 98 | 52.04% | 121 | 23.14% |
| New Listings | 126 | 137 | -8.03% | 162 | -22.22% |
| Active Listings | 112 | 154 | -27.27% | 147 | -23.81% |
| Benchmark Price | $244,300 | $178,200 | 37.09% | $236,600 | 3.25% |
| Median Price | $228,000 | $174,750 | 30.47% | $219,500 | 3.87% |
| Average Price | $245,934 | $177,766 | 38.35% | $225,581 | 9.02% |
Disclaimer
All of the data for the monthly real estate market updates are taken directly from the MLS® statistics packages that the Fraser Valley Real Estate Board publishes every month.
Although rare, errors and omissions may happen from time to time. If you want to be absolutely certain the you have the most accurate data, we encourage you to click on the link to the latest MLS® statistics for the real estate market.
Or, better still, speak directly with a real estate agent who specializes in condominiums who will be able to provide you with the most accurate, up to the minute information on – and insights into – the real estate market.
Very helpful statistics about condominiums. Thank You