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The Fraser Valley Real Estate Board recently published the statistics for the Abbotsford real estate market, among others, for December 2020.

In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for December 2020 – 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.

The pandemic upended everything in 2020 and how the real estate market responded to it was nothing short of remarkable. No one could have anticipated a six-month stretch like we've just experienced. Typical seasonal cycles did not apply, how we conduct business had to change to keep the public safe; and most unexpected, has been the unwavering demand for family-sized homes in our region and so far, there is no sign of it slowing down.

Chris Shields, President of the FVREB

And we're going to look at how the numbers for December 2020 compare with the numbers for December 2019 and for November 2020.

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 December 2020.

  • 84 Sales
  • 39 New Listings
  • 146 Active listings
  • $325,300 Benchmark Price
  • $314,250 Median Price
  • $327,186 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 57.53%, indicating that it was a Seller's Market for condominiums in Abbotsford in December 2020 (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 December 2020:

  • There were 84 condominium sales in Abbotsford in December 2020 – a change of 55.56% over December 2019 and a change of 25.37% over November 2020
  • There were 39 new listings of condominiums in Abbotsford in December 2020 – a change of 0.00% over December 2019 and a change of -59.79% over November 2020
  • The average price of a condominium in Abbotsford in December 2020 was $327,186 – a change of 8.02% over December 2019 and a change of -3.86% over November 2020

If you're really keen to understand what happened in the market for condominium in Abbotsford in December 2020, 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 December 2020 and see how it compares with the previous year and previous month.

Abbotsford Condominium Stats

Metric Dec 2020 Dec 2019 % Change Nov 2020 % Change
Sales 84 54 55.56% 67 25.37%
New Listings 39 39 0.00% 97 -59.79%
Active Listings 146 146 0.00% 237 -38.40%
Benchmark Price $325,300 $309,100 5.24% $323,400 0.59%
Median Price $314,250 $284,000 10.65% $325,000 -3.31%
Average Price $327,186 $302,907 8.02% $340,325 -3.86%

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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