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

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

Despite a much healthier level of inventory, demand continues to be influenced by pricing and market barriers such as the mortgage stress test and rising interest rates. On top of that, summer is busy for people and usually a slow season for real estate.

John Barbisan, President of the FVREB

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

  • 68 Sales
  • 142 New Listings
  • 275 Active listings
  • $350,200 Benchmark Price
  • $312,000 Median Price
  • $323,725 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 24.73%, indicating that it was a Seller's Market for condominiums in Abbotsford in July 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 July 2018:

  • There were 68 condominium sales in Abbotsford in July 2018 – a change of -20.93% over July 2017 and a change of -13.92% over June 2018
  • There were 142 new listings of condominiums in Abbotsford in July 2018 – a change of 32.71% over July 2017 and a change of -6.58% over June 2018
  • The benchmark price of a condominium in Abbotsford in July 2018 was $350,200 – a change of 36.69% over July 2017 and a change of -1.85% over June 2018

If you're really keen to understand what happened in the market for condominium in Abbotsford in July 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 July 2018 and see how it compares with the previous year and previous month.

Abbotsford Condominium Stats

MetricJul 2018Jul 2017% ChangeJun 2018% Change
Sales6886-20.93%79-13.92%
New Listings14210732.71%152-6.58%
Active Listings275123123.58%2529.13%
Benchmark Price$350,200$256,20036.69%$356,800-1.85%
Median Price$312,000$240,25029.86%$319,700-2.41%
Average Price$323,725$244,10632.62%$330,222-1.97%

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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