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

In this post, we’re going to take a close look at key numbers for the Abbotsford condominium market for May 2018 – including sales, new listings, active listings, as well as benchmark, median and average prices for Abbotsford condominiums.

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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.

This is the most inventory we’ve had in over two years. Now that the pace of our market has begun to settle, we’re seeing more opportunities for buyers and less pressure to make fast decisions.

John Barbisan, President of the FVREB

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

  • 103 Sales
  • 201 New Listings
  • 226 Active listings
  • $353,400 Benchmark Price
  • $322,500 Median Price
  • $331,518 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 45.58%, indicating that it was a Seller's Market for condominiums in Abbotsford in May 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 May 2018:

  • There were 103 condominium sales in Abbotsford in May 2018 – a change of -14.88% over May 2017 and a change of -3.74% over April 2018
  • There were 201 new listings of condominiums in Abbotsford in May 2018 – a change of 24.07% over May 2017 and a change of 18.93% over April 2018
  • The benchmark price of a condominium in Abbotsford in May 2018 was $353,400 – a change of 48.36% over May 2017 and a change of 1.96% over April 2018

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

Abbotsford Condominium Stats

MetricMay 2018May 2017% ChangeApr 2018% Change
Sales103121-14.88%107-3.74%
New Listings20116224.07%16918.93%
Active Listings22614753.74%15248.68%
Benchmark Price$353,400$238,20048.36%$346,6001.96%
Median Price$322,500$219,50046.92%$320,0000.78%
Average Price$331,518$225,58146.96%$320,7863.35%

Abbotsford Real Estate Market Infographic

Abbotsford Condominium Market Update May 2018 Infographic

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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