In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for August 2018 – including sales, new listings, active listings, as well as benchmark, median and average prices for condominiums for sale in Abbotsford.
We're also going to see what kind of shape the condominium market in Abbotsford was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.
With demand slowing down and prices staying put, both buyers and sellers can expect to see an easing of competition with less multiple offer situations. Right now, effective pricing is key and will be the determining factor for a successful transaction.John Barbisan, President of the FVREB
And we're going to look at how the numbers for August 2018 compare with the numbers for August 2017 and for July 2018.
Key Highlights of the Abbotsford Real Estate Market for Condominiums
Here's a high-level snapshot of what went on with the market for condominiums in Abbotsford for August 2018.
- 51 Sales
- 123 New Listings
- 293 Active listings
- $337,200 Benchmark Price
- $306,000 Median Price
- $308,495 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 17.41%, indicating that it was a Balanced Market for condominiums in Abbotsford in August 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 Condominium Market Changes
Following are some of the highlights for condominiums for sale in Abbotsford in August 2018:
- There were 51 condominium sales in Abbotsford in August 2018 – a change of -53.64% over August 2017 and a change of -25.00% over July 2018
- There were 123 new listings of condominiums in Abbotsford in August 2018 – a change of 6.96% over August 2017 and a change of -13.38% over July 2018
- The benchmark price of a condominium in Abbotsford in August 2018 was $337,200 – a change of 29.79% over August 2017 and a change of -3.71% over July 2018
If you're really keen to understand what happened in the market for condominium in Abbotsford in August 2018, make sure you check out the next section.
Detailed Overview of the Market for Condominiums in Abbotsford
Check out the table below for more detailed information on what happened in the Abbotsford condominium market in August 2018 and see how it compares with the previous year and previous month.
Abbotsford Condominium Stats
|Metric||Aug 2018||Aug 2017||% Change||Jul 2018||% Change|
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.