The Fraser Valley Real Estate Board recently published the MLS® statistics for the Abbotsford real estate market, among others, for December 2023.
In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for December 2023 – 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.
2023 saw buyers and sellers adjust to new rate realities, and the impact of those high rates were reflected in the low number of sales in the Fraser Valley. However, as rates start to ease, we expect market activity will pick up. This will create opportunities for buyers and sellers who are advised to consult with a professional REALTOR® before jumping into the market.
Baldev Gill – President, Fraser Valley Real Estate Board
And we're going to look at how the Abbotsford MLS® numbers for December 2023 compare with the numbers for December 2022 and for November 2023.
Highlights of FVREB MLS® Data on Abbotsford Condominium Listings and Sales
Here's a high-level snapshot of listing and sales activity for Abbotsford condominiums in December 2023.
- 38 Sales
- 50 New Listings
- 130 Active listings
- $446,400 Benchmark Price
- $411,000 Median Price
- $418,699 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 29.23%, indicating that it was a Seller's Market for condominiums in Abbotsford in December 2023 (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 Abbotsford MLS® listing and sales activity for condominiums, 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 2023:
- There were 38 condominium sales in Abbotsford in December 2023 – an increase of 18.75% over December 2022 and a decrease of -19.15% over November 2023
- There were 50 new listings of condominiums in Abbotsford in December 2023 – an increase of 2.04% over December 2022 and a decrease of -38.27% over November 2023
- The average price of a condominium in Abbotsford in December 2023 was $418,699 – an increase of 13.51% over December 2022 and a decrease of -9.02% over November 2023
If you're really keen to understand what happened in the market for condominium in Abbotsford in December 2023, 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 2023 and see how it compares with the previous year and previous month.
Abbotsford Condominium Stats
| Metric | Dec 2023 | Dec 2022 | % Change | Nov 2023 | % Change |
|---|---|---|---|---|---|
| Sales | 38 | 32 | 18.75% | 47 | -19.15% |
| New Listings | 50 | 49 | 2.04% | 81 | -38.27% |
| Active Listings | 130 | 160 | -18.75% | 155 | -16.13% |
| Benchmark Price | $446,400 | $401,100 | 11.29% | $442,400 | 0.90% |
| Median Price | $411,000 | $365,950 | 12.31% | $415,000 | -0.96% |
| Average Price | $418,699 | $368,881 | 13.51% | $460,232 | -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 Abbotsford real estate market.
Or, better still, speak directly with a real estate agent who specializes in Abbotsford condominiums 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.