Published by Dave Banner on April 22, 2018
The Fraser Valley Real Estate Board recently published the statistics for the Abbotsford real estate market, among others, for March 2018.
In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for March 2018 – including sales, new listings, active listings, as well as benchmark, median and average prices for Abbotsford condominiums.
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.
We continue to see demand capped-off due to an inadequate amount of supply. March is typically when we see our market kick into gear, but we need to see higher levels of new listings coming in and greater overall inventory if we want more homebuyers to find success in the Valley.John Barbisan, President of the FVREB
And we’re going to look at how the numbers for March 2018 compare with the numbers for March 2017 and for February 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 March 2018.
- 99 Sales
- 145 New Listings
- 113 Active listings
- $336,600 Benchmark Price
- $333,300 Median Price
- $333,680 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 87.61%, indicating that it was a Seller's Market for condominiums in Abbotsford in March 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 in Abbotsford in March 2018:
- There were 99 condominium sales in Abbotsford in March 2018 – a change of -10.00% over March 2017 and a change of 45.59% over February 2018
- There were 145 new listings of condominiums in Abbotsford in March 2018 – a change of 4.32% over March 2017 and a change of 46.46% over February 2018
- The benchmark price of a condominium in Abbotsford in March 2018 was $336,600 – a change of 47.83% over March 2017 and a change of 6.55% over February 2018
If you’re really keen to understand what happened in the market for condominium in Abbotsford in March 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 March 2018 and see how it compares with the previous year and previous month.
Abbotsford Condominium Stats
|Metric||Mar 2018||Mar 2017||% Change||Feb 2018||% Change|
Abbotsford Real Estate Market Infographic
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.