In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for June 2019 – 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 Fraser Valley market is still adjusting to the federal government's new mortgage requirements and to the provincial government's speculation and vacancy taxes. We're seeing historically low levels for home purchases in our region, and at the same time, we're seeing some prospective sellers holding back on listing their homes; waiting to see what the market will do.Darin Germyn, President of the FVREB
And we're going to look at how the numbers for June 2019 compare with the numbers for June 2018 and for May 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 June 2019.
- 82 Sales
- 129 New Listings
- 306 Active listings
- $312,500 Benchmark Price
- $302,250 Median Price
- $305,358 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 26.80%, indicating that it was a Seller's Market for condominiums in Abbotsford in June 2019 (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 June 2019:
- There were 82 condominium sales in Abbotsford in June 2019 – a change of 3.80% over June 2018 and a change of 6.49% over May 2019
- There were 129 new listings of condominiums in Abbotsford in June 2019 – a change of -15.13% over June 2018 and a change of -14.57% over May 2019
- The benchmark price of a condominium in Abbotsford in June 2019 was $312,500 – a change of -12.42% over June 2018 and a change of -1.57% over May 2019
If you're really keen to understand what happened in the market for condominium in Abbotsford in June 2019, 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 June 2019 and see how it compares with the previous year and previous month.
Abbotsford Condominium Stats
|Metric||Jun 2019||Jun 2018||% Change||May 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.