fbpx

The Fraser Valley Real Estate Board recently published the statistics for the Abbotsford real estate market, among others, for October 2019.

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

Our market started to pick up in the summer and we've been steadily improving since. It's rare to see October home sales in the Fraser Valley outpace April and that's what we've seen this year; our typical spring and fall markets have flipped.

Darin Germyn, President of the FVREB

And we're going to look at how the numbers for October 2019 compare with the numbers for October 2018 and for September 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 October 2019.

  • 79 Sales
  • 115 New Listings
  • 253 Active listings
  • $308,600 Benchmark Price
  • $318,000 Median Price
  • $314,843 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 31.23%, indicating that it was a Seller's Market for condominiums in Abbotsford in October 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 October 2019:

  • There were 79 condominium sales in Abbotsford in October 2019 – a change of 54.90% over October 2018 and a change of 14.49% over September 2019
  • There were 115 new listings of condominiums in Abbotsford in October 2019 – a change of -6.50% over October 2018 and a change of -11.54% over September 2019
  • The benchmark price of a condominium in Abbotsford in October 2019 was $308,600 – a change of -6.26% over October 2018 and a change of -1.15% over September 2019

If you're really keen to understand what happened in the market for condominium in Abbotsford in October 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 October 2019 and see how it compares with the previous year and previous month.

Abbotsford Condominium Stats

MetricOct 2019Oct 2018% ChangeSep 2019% Change
Sales795154.90%6914.49%
New Listings115123-6.50%130-11.54%
Active Listings2532530.00%257-1.56%
Benchmark Price$308,600$329,200-6.26%$312,200-1.15%
Median Price$318,000$290,0009.66%$298,0006.71%
Average Price$314,843$301,5534.41%$307,4622.40%

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Find out how a mortgage broker can help you get the right mortgage solution for your needs.

Need financing for your new home?

18749
Scroll to Top
0 Shares
Share
Tweet
Share
Pin