The Fraser Valley Real Estate Board recently published the statistics for the Abbotsford real estate market, among others, for January 2018.
In this post, we’re going to take a close look at key numbers for the Abbotsford detached home market for January 2018 – including sales, new listings, active listings, as well as benchmark, median and average prices for Abbotsford detached homes.
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.
This will be the third consecutive year of heightened market activity for our region, and we’re starting 2018 exactly where we left off – gradually rising prices, tight inventory, and the dominance of attached home sales.Gopal Sahota, President of the FVREB
And we're going to look at how the numbers for January 2018 compare with the numbers for January 2017 and for December 2017 .
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 January 2018.
- 65 Sales
- 116 New Listings
- 254 Active listings
- $786,400 Benchmark Price
- $720,000 Median Price
- $760,352 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 25.59%, indicating that it was a Seller's Market for detached homes in Abbotsford in January 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 Detached Home Market Changes
Following are some of the highlights for detached homes in Abbotsford in January 2018:
- There were 65 detached home sales in Abbotsford in January 2018 – a change of -7.14% over January 2017 and a change of -20.73% over December 2017
- There were 116 new listings of detached homes in Abbotsford in January 2018 – a change of 6.42% over January 2017 and a change of 41.46% over December 2017
- The benchmark price of a detached home in Abbotsford in January 2018 was $786,400 – a change of 18.06% over January 2017 and a change of -0.74% over December 2017
If you're really keen to understand what happened in the market for detached home in Abbotsford in January 2018, 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 January 2018 and see how it compares with the previous year and previous month.
Abbotsford Detached Home Stats
|Metric||Jan 2018||Jan 2017||% Change||Dec 2017||% Change|
Abbotsford Real Estate Market Infographic
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.