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Abbotsford Detached Home Market Update May 2019

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

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

Buyers are recognizing that in the last three months, home prices have stopped declining and that in order to take advantage of the improvement in prices over the past year, now is a great time to consider making the purchase they held off on in the previous months. We're seeing buyers who have been waiting on the sidelines, act, because of better price opportunities and more selection. It's been four years since buyers had this much choice in the Fraser Valley.

Darin Germyn, President of the FVREB

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

  • 100 Sales
  • 253 New Listings
  • 472 Active listings
  • $803,300 Benchmark Price
  • $790,500 Median Price
  • $820,276 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 21.19%, indicating that it was a Seller's Market for detached homes in Abbotsford in May 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 May 2019:

  • There were 100 detached home sales in Abbotsford in May 2019 – a change of -15.97% over May 2018 and a change of 14.94% over April 2019
  • There were 253 new listings of detached homes in Abbotsford in May 2019 – a change of 1.61% over May 2018 and a change of 25.25% over April 2019
  • The benchmark price of a detached home in Abbotsford in May 2019 was $803,300 – a change of -3.98% over May 2018 and a change of -0.27% over April 2019

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

Abbotsford Detached Home Stats

MetricMay 2019May 2018% ChangeApr 2019% Change
Sales100119-15.97%8714.94%
New Listings2532491.61%20225.25%
Active Listings47235532.96%39419.80%
Benchmark Price$803,300$836,600-3.98%$805,500-0.27%
Median Price$790,500$805,000-1.80%$777,5001.67%
Average Price$820,276$845,037-2.93%$807,3961.60%

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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