In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for January 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.
Considering our record-shattering snow and cold, the pace of home sales remained surprisingly balanced in January. Sales in our region have steadily improved since July of last year and January's numbers remained consistent with that trend.Darin Germyn, President of the FVREB
And we're going to look at how the numbers for January 2020 compare with the numbers for January 2019 and for December 2019 .
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 January 2020.
- 40 Sales
- 84 New Listings
- 168 Active listings
- $312,000 Benchmark Price
- $285,250 Median Price
- $305,239 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 23.81%, indicating that it was a Seller's Market for condominiums in Abbotsford in January 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 January 2020:
- There were 40 condominium sales in Abbotsford in January 2020 – a change of -23.08% over January 2019 and a change of -25.93% over December 2019
- There were 84 new listings of condominiums in Abbotsford in January 2020 – a change of -36.36% over January 2019 and a change of 115.38% over December 2019
- The benchmark price of a condominium in Abbotsford in January 2020 was $312,000 – a change of 1.60% over January 2019 and a change of 0.91% over December 2019
If you're really keen to understand what happened in the market for condominium in Abbotsford in January 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 January 2020 and see how it compares with the previous year and previous month.
Abbotsford Condominium Stats
|Metric||Jan 2020||Jan 2019||% Change||Dec 2019||% 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.