The Fraser Valley Real Estate Board recently published the MLS® statistics for the real estate market, among others, for April 2019.
In this post, we’re going to take a close look at key numbers for the townhouse market for April 2019 – including sales, new listings, active listings, as well as benchmark, median and average prices for townhouses for sale in .
We're also going to see what kind of shape the townhouse market in was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.
Consumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we're seeing that reflected in our MLS® data. Detached homes under one million dollars and attached homes – ranging from $400,000 to $700,000 – continue to attract buyers in the Fraser Valley. Townhome sales in Abbotsford increased by almost 60 per cent compared to March and were on par with last year's April sales.
Darin Germyn, President of the FVREB – President, Fraser Valley Real Estate Board
And we're going to look at how the Abbotsford MLS® numbers for April 2019 compare with the numbers for April 2018 and for March 2019.
Highlights of FVREB MLS® Data on Townhouse Listings and Sales
Here's a high-level snapshot of listing and sales activity for townhouses in April 2019.
- 62 Sales
- 100 New Listings
- 185 Active listings
- $376,400 Benchmark Price
- $486,250 Median Price
- $472,586 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 33.51%, indicating that it was a Seller's Market for townhouses in in April 2019 (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 townhouses, you need to speak with a real estate agent.
Townhouse Market Changes
Following are some of the highlights for townhouses for sale in in April 2019:
- There were 62 townhouse sales in in April 2019 – an increase of 1.64% over April 2018 and an increase of 58.97% over March 2019
- There were 100 new listings of townhouses in in April 2019 – a decrease of -0.99% over April 2018 and an increase of 7.53% over March 2019
- The average price of a townhouse in in April 2019 was $472,586 – a decrease of -2.57% over April 2018 and an increase of 1.75% over March 2019
If you're really keen to understand what happened in the market for townhouse in in April 2019, make sure you check out the next section.
Detailed Overview of the Market for Townhouses in
Check out the table below for more detailed information on what happened in the townhouse market in April 2019 and see how it compares with the previous year and previous month.
Townhouse Stats
| Metric | Apr 2019 | Apr 2018 | % Change | Mar 2019 | % Change |
|---|---|---|---|---|---|
| Sales | 62 | 61 | 1.64% | 39 | 58.97% |
| New Listings | 100 | 101 | -0.99% | 93 | 7.53% |
| Active Listings | 185 | 96 | 92.71% | 186 | -0.54% |
| Benchmark Price | $376,400 | $390,200 | -3.54% | $374,900 | 0.40% |
| Median Price | $486,250 | $503,000 | -3.33% | $457,500 | 6.28% |
| Average Price | $472,586 | $485,050 | -2.57% | $464,449 | 1.75% |
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 townhouses who will be able to provide you with the most accurate, up to the minute information on – and insights into – the real estate market.