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Abbotsford Detached Home Market Update April 2024

Home » Market Updates » Abbotsford Detached Home Market Update April 2024

The Fraser Valley Real Estate Board recently published the MLS® statistics for the Abbotsford real estate market, among others, for April 2024.

In this post, we’re going to take a close look at key numbers for the Abbotsford detached home market for April 2024 – including sales, new listings, active listings, as well as benchmark, median and average prices for detached homes for sale in Abbotsford.

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

We are seeing a relatively calm and balanced market right now. Which means buyers have time to shop around and purchase a home without the pressure of a few years ago, and while prices are holding fairly steady across all property types.

Jeff Chadha – President, Fraser Valley Real Estate Board

And we're going to look at how the Abbotsford MLS® numbers for April 2024 compare with the numbers for April 2023 and for March 2024.

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

Here's a high-level snapshot of listing and sales activity for Abbotsford detached homes in April 2024.

  • 61 Sales
  • 232 New Listings
  • 399 Active listings
  • $1,249,200 Benchmark Price
  • $1,175,000 Median Price
  • $1,176,480 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 15.29%, indicating that it was a Balanced Market for detached homes in Abbotsford in April 2024 (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 Abbotsford MLS® listing and sales activity for detached homes, you need to speak with a real estate agent.

Abbotsford Detached Home Market Changes

Following are some of the highlights for detached homes for sale in Abbotsford in April 2024:

  • There were 61 detached home sales in Abbotsford in April 2024 – a decrease of -29.07% over April 2023 and a decrease of -11.59% over March 2024
  • There were 232 new listings of detached homes in Abbotsford in April 2024 – an increase of 74.44% over April 2023 and an increase of 31.07% over March 2024
  • The average price of a detached home in Abbotsford in April 2024 was $1,176,480 – an increase of 0.47% over April 2023 and a decrease of -5.11% over March 2024

If you're really keen to understand what happened in the market for detached home in Abbotsford in April 2024, make sure you check out the next section.

Detailed Overview of the Market for Detached Homes in Abbotsford

Check out the table below for more detailed information on what happened in the Abbotsford detached home market in April 2024 and see how it compares with the previous year and previous month.

Abbotsford Detached Home Stats

Metric Apr 2024 Apr 2023 % Change Mar 2024 % Change
Sales 61 86 -29.07% 69 -11.59%
New Listings 232 133 74.44% 177 31.07%
Active Listings 399 223 78.92% 314 27.07%
Benchmark Price $1,249,200 $1,164,500 7.27% $1,238,200 0.89%
Median Price $1,175,000 $1,150,000 2.17% $1,189,700 -1.24%
Average Price $1,176,480 $1,171,009 0.47% $1,239,886 -5.11%

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 Abbotsford real estate market.

Or, better still, speak directly with a real estate agent who specializes in Abbotsford detached homes 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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