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

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

While slight, this is the first time since May that sales here have been on the upswing. We’re beneath typical activity levels for this time of year but it’s good to see that buyers and sellers are still finding success this season.

John Barbisan, President of the FVREB

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

  • 51 Sales
  • 123 New Listings
  • 314 Active listings
  • $329,200 Benchmark Price
  • $290,000 Median Price
  • $301,553 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 16.24%, indicating that it was a Balanced Market for condominiums in Abbotsford in October 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 October 2018:

  • There were 51 condominium sales in Abbotsford in October 2018 – a change of -54.87% over October 2017 and a change of -13.56% over September 2018
  • There were 123 new listings of condominiums in Abbotsford in October 2018 – a change of 18.27% over October 2017 and a change of -12.14% over September 2018
  • The benchmark price of a condominium in Abbotsford in October 2018 was $329,200 – a change of 19.06% over October 2017 and a change of -1.20% over September 2018

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

Abbotsford Condominium Stats

MetricOct 2018Oct 2017% ChangeSep 2018% Change
Sales51113-54.87%59-13.56%
New Listings12310418.27%140-12.14%
Active Listings31497223.71%3072.28%
Benchmark Price$329,200$276,50019.06%$333,200-1.20%
Median Price$290,000$255,00013.73%$295,000-1.69%
Average Price$301,553$257,39717.15%$320,842-6.01%

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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