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Abbotsford Detached Home Market Update April 2019

Home » Market Updates » Abbotsford Detached Home Market Update April 2019

The Fraser Valley Real Estate Board recently published the MLS® statistics for the real estate market, among others, for April 2019.

In this post, we’re going to take a close look at key numbers for the detached home market for April 2019 – including sales, new listings, active listings, as well as benchmark, median and average prices for detached homes for sale in .

We're also going to see what kind of shape the detached home market in was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.

Consumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we're seeing that reflected in our MLS® data. Detached homes under one million dollars and attached homes – ranging from $400,000 to $700,000 – continue to attract buyers in the Fraser Valley. Townhome sales in Abbotsford increased by almost 60 per cent compared to March and were on par with last year's April sales.

Darin Germyn, President of the FVREB – President, Fraser Valley Real Estate Board

And we're going to look at how the Abbotsford MLS® numbers for April 2019 compare with the numbers for April 2018 and for March 2019.

Highlights of FVREB MLS® Data on Detached Home Listings and Sales

Here's a high-level snapshot of listing and sales activity for detached homes in April 2019.

  • 87 Sales
  • 202 New Listings
  • 394 Active listings
  • $805,500 Benchmark Price
  • $777,500 Median Price
  • $807,396 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 22.08%, indicating that it was a Seller's Market for detached homes in in April 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 and up-to-date data on MLS® listing and sales activity for detached homes, you need to speak with a real estate agent.

Detached Home Market Changes

Following are some of the highlights for detached homes for sale in in April 2019:

  • There were 87 detached home sales in in April 2019 – a decrease of -20.18% over April 2018 and an increase of 20.83% over March 2019
  • There were 202 new listings of detached homes in in April 2019 – a decrease of -2.42% over April 2018 and an increase of 10.99% over March 2019
  • The average price of a detached home in in April 2019 was $807,396 – a decrease of -3.77% over April 2018 and a decrease of -1.25% over March 2019

If you're really keen to understand what happened in the market for detached home in in April 2019, make sure you check out the next section.

Detailed Overview of the Market for Detached Homes in

Check out the table below for more detailed information on what happened in the detached home market in April 2019 and see how it compares with the previous year and previous month.

Detached Home Stats

Metric Apr 2019 Apr 2018 % Change Mar 2019 % Change
Sales 87 109 -20.18% 72 20.83%
New Listings 202 207 -2.42% 182 10.99%
Active Listings 394 299 31.77% 343 14.87%
Benchmark Price $805,500 $825,300 -2.40% $800,200 0.66%
Median Price $777,500 $781,000 -0.45% $790,000 -1.58%
Average Price $807,396 $838,992 -3.77% $817,639 -1.25%

Disclaimer

All of the data for the monthly real estate market updates are taken directly from the MLS® 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 MLS® statistics for the real estate market.

Or, better still, speak directly with a real estate agent who specializes in detached homes who will be able to provide you with the most accurate, up to the minute information on – and insights into – the real estate market.

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