In this post, we’re going to take a close look at key numbers for the Abbotsford detached home market for June 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.
The Fraser Valley market is still adjusting to the federal government's new mortgage requirements and to the provincial government's speculation and vacancy taxes. We're seeing historically low levels for home purchases in our region, and at the same time, we're seeing some prospective sellers holding back on listing their homes; waiting to see what the market will do.Darin Germyn, President of the FVREB
And we're going to look at how the numbers for June 2019 compare with the numbers for June 2018 and for May 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 June 2019.
- 83 Sales
- 207 New Listings
- 517 Active listings
- $807,700 Benchmark Price
- $815,000 Median Price
- $849,406 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 16.05%, indicating that it was a Balanced Market for detached homes in Abbotsford in June 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 June 2019:
- There were 83 detached home sales in Abbotsford in June 2019 – a change of -14.43% over June 2018 and a change of -17.00% over May 2019
- There were 207 new listings of detached homes in Abbotsford in June 2019 – a change of 6.70% over June 2018 and a change of -18.18% over May 2019
- The benchmark price of a detached home in Abbotsford in June 2019 was $807,700 – a change of -3.93% over June 2018 and a change of 0.55% over May 2019
If you're really keen to understand what happened in the market for detached home in Abbotsford in June 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 June 2019 and see how it compares with the previous year and previous month.
Abbotsford Detached Home Stats
|Metric||Jun 2019||Jun 2018||% Change||May 2019||% Change|
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.