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Abbotsford Detached Home Market Update February 2019

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

In this post, we’re going to take a close look at key numbers for the Abbotsford detached home market for February 2019 – 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.

With inventory continuing to build, and prices softening across many of our areas and property types, buyers will be well positioned to make a move this spring.

Darin Germyn, President of the FVREB

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

Key Highlights of the Abbotsford Real Estate Market for Detached Homes

Here's a high-level snapshot of what went on with the market for detached homes in Abbotsford for February 2019.

  • 61 Sales
  • 103 New Listings
  • 273 Active listings
  • $782,000 Benchmark Price
  • $755,000 Median Price
  • $797,875 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 22.34%, indicating that it was a Seller's Market for detached homes in Abbotsford in February 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 Detached Home Market Changes

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

  • There were 61 detached home sales in Abbotsford in February 2019 – a change of -42.99% over February 2018 and a change of 69.44% over January 2019
  • There were 103 new listings of detached homes in Abbotsford in February 2019 – a change of -33.55% over February 2018 and a change of -16.26% over January 2019
  • The benchmark price of a detached home in Abbotsford in February 2019 was $782,000 – a change of -2.65% over February 2018 and a change of 0.53% over January 2019

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

Abbotsford Detached Home Stats

MetricFeb 2019Feb 2018% ChangeJan 2019% Change
Sales61107-42.99%3669.44%
New Listings103155-33.55%123-16.26%
Active Listings2732633.80%2701.11%
Benchmark Price$782,000$803,300-2.65%$777,9000.53%
Median Price$755,000$770,000-1.95%$704,0007.24%
Average Price$797,875$838,706-4.87%$731,0449.14%

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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