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Abbotsford Detached Home Market Update November 2018

The Fraser Valley Real Estate Board recently published the statistics for the Abbotsford real estate market, among others, for November 2018.

In this post, we’re going to take a close look at key numbers for the Abbotsford detached home market for November 2018 – including sales, new listings, active listings, as well as benchmark, median and average prices for detached homes for sale in Abbotsford.

We're also going to see what kind of shape the detached home market in Abbotsford was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.

Lessening demand continues to impact our market significantly. In turn, that has given purchasing power back to buyers who now have more time and more options when it comes to making a decision.

John Barbisan, President of the FVREB

And we're going to look at how the numbers for November 2018 compare with the numbers for November 2017 and for October 2018.

Key Highlights of the Abbotsford Real Estate Market for Detached Homes

Here's a high-level snapshot of what went on with the market for detached homes in Abbotsford for November 2018.

  • 55 Sales
  • 116 New Listings
  • 392 Active listings
  • $803,000 Benchmark Price
  • $735,000 Median Price
  • $781,294 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 14.03%, indicating that it was a Balanced Market for detached homes in Abbotsford in November 2018 (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 information on how the market's doing, you need to speak with a real estate agent.

Abbotsford Detached Home Market Changes

Following are some of the highlights for detached homes for sale in Abbotsford in November 2018:

  • There were 55 detached home sales in Abbotsford in November 2018 – a change of -47.12% over November 2017 and a change of -27.63% over October 2018
  • There were 116 new listings of detached homes in Abbotsford in November 2018 – a change of -28.83% over November 2017 and a change of -32.56% over October 2018
  • The benchmark price of a detached home in Abbotsford in November 2018 was $803,000 – a change of 2.03% over November 2017 and a change of -1.12% over October 2018

If you're really keen to understand what happened in the market for detached home in Abbotsford in November 2018, make sure you check out the next section.

Detailed Overview of the Market for Detached Homes in Abbotsford

Check out the table below for more detailed information on what happened in the Abbotsford detached home market in November 2018 and see how it compares with the previous year and previous month.

Abbotsford Detached Home Stats

MetricNov 2018Nov 2017% ChangeOct 2018% Change
Sales55104-47.12%76-27.63%
New Listings116163-28.83%172-32.56%
Active Listings39233118.43%420-6.67%
Benchmark Price$803,000$787,0002.03%$812,100-1.12%
Median Price$735,000$731,5000.48%$750,000-2.00%
Average Price$781,294$790,601-1.18%$795,457-1.78%

Disclaimer

All of the data for the monthly real estate market updates are taken directly from the 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 statistics for the Abbotsford real estate market.

Or, better still, speak directly with an Abbotsford real estate agent who will be able to provide you with the most accurate, up to the minute information on – and insights into – the Abbotsford real estate market.

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