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The Fraser Valley Real Estate Board recently published the statistics for the Abbotsford real estate market, among others, for March 2020.

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

Sales were steadily increasing as is typical moving into spring, and then understandably and necessarily, they started to decline. We serve the public and we understand it is very challenging to buy or list a home while maintaining physical distancing, however if you need us, know that we are here for you.

Chris Shields, President of the Board

And we're going to look at how the numbers for March 2020 compare with the numbers for March 2019 and for February 2020.

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 2020.

  • 52 Sales
  • 129 New Listings
  • 255 Active listings
  • $320,800 Benchmark Price
  • $295,000 Median Price
  • $320,667 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 20.39%, indicating that it was a Seller's Market for condominiums in Abbotsford in March 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 March 2020:

  • There were 52 condominium sales in Abbotsford in March 2020 – a change of -7.14% over March 2019 and a change of 33.33% over February 2020
  • There were 129 new listings of condominiums in Abbotsford in March 2020 – a change of 11.21% over March 2019 and a change of 16.22% over February 2020
  • The benchmark price of a condominium in Abbotsford in March 2020 was $320,800 – a change of 2.13% over March 2019 and a change of 2.36% over February 2020

If you're really keen to understand what happened in the market for condominium in Abbotsford in March 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 March 2020 and see how it compares with the previous year and previous month.

Abbotsford Condominium Stats

Metric Mar 2020 Mar 2019 % Change Feb 2020 % Change
Sales 52 56 -7.14% 39 33.33%
New Listings 129 116 11.21% 111 16.22%
Active Listings 255 255 0.00% 214 19.16%
Benchmark Price $320,800 $314,100 2.13% $313,400 2.36%
Median Price $295,000 $295,000 0.00% $290,000 1.72%
Average Price $320,667 $305,267 5.04% $291,405 10.04%

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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