In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for March 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.
From a buyer’s perspective, there are more opportunities available as we move deeper into spring. Many of our communities are seeing higher inventory levels, especially in the attached market with the number of available townhomes almost doubling and Fraser Valley condos more than doubling compared to last year.Darin Germyn, President of the FVREB
And we're going to look at how the numbers for March 2019 compare with the numbers for March 2018 and for February 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 March 2019.
- 56 Sales
- 116 New Listings
- 246 Active listings
- $314,100 Benchmark Price
- $295,000 Median Price
- $305,267 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 22.76%, indicating that it was a Seller's Market for condominiums in Abbotsford in March 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 March 2019:
- There were 56 condominium sales in Abbotsford in March 2019 – a change of -43.43% over March 2018 and a change of -15.15% over February 2019
- There were 116 new listings of condominiums in Abbotsford in March 2019 – a change of -20.00% over March 2018 and a change of 34.88% over February 2019
- The benchmark price of a condominium in Abbotsford in March 2019 was $314,100 – a change of -6.68% over March 2018 and a change of 3.63% over February 2019
If you're really keen to understand what happened in the market for condominium in Abbotsford in March 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 March 2019 and see how it compares with the previous year and previous month.
Abbotsford Condominium Stats
|Metric||Mar 2019||Mar 2018||% Change||Feb 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.