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Abbotsford Detached Home Market Update September 2020

Home » Market Updates » Abbotsford Detached Home Market Update September 2020

The Fraser Valley Real Estate Board recently published the MLS® statistics for the Abbotsford real estate market, among others, for September 2020.

In this post, we’re going to take a close look at key numbers for the Abbotsford detached home market for September 2020 – 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.

Our homes have never been more important. Across the Fraser Valley, we're seeing a trend towards buyers looking for more space and livability in both single?family homes and townhomes. For many existing homeowners and first?time buyers, their buying power is greater than it's been in a long time. Interest rates are very low, people have saved money over the last few months, and they're choosing to invest it in their most important asset. Sellers are also recognizing that with lower than normal inventory, this is a smart time to list.

Chris Shields, President of the Board – President, Fraser Valley Real Estate Board

And we're going to look at how the Abbotsford MLS® numbers for September 2020 compare with the numbers for September 2019 and for August 2020.

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 September 2020.

  • 139 Sales
  • 229 New Listings
  • 386 Active listings
  • $868,300 Benchmark Price
  • $850,000 Median Price
  • $898,660 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 36.01%, indicating that it was a Seller's Market for detached homes in Abbotsford in September 2020 (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 September 2020:

  • There were 139 detached home sales in Abbotsford in September 2020 – an increase of 113.85% over September 2019 and a decrease of -4.79% over August 2020
  • There were 229 new listings of detached homes in Abbotsford in September 2020 – an increase of 37.95% over September 2019 and an increase of 3.15% over August 2020
  • The average price of a detached home in Abbotsford in September 2020 was $898,660 – an increase of 12.67% over September 2019 and an increase of 2.26% over August 2020

If you're really keen to understand what happened in the market for detached home in Abbotsford in September 2020, 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 September 2020 and see how it compares with the previous year and previous month.

Abbotsford Detached Home Stats

Metric Sep 2020 Sep 2019 % Change Aug 2020 % Change
Sales 139 65 113.85% 146 -4.79%
New Listings 229 166 37.95% 222 3.15%
Active Listings 386 386 0.00% 358 7.82%
Benchmark Price $868,300 $791,700 9.68% $849,800 2.18%
Median Price $850,000 $769,000 10.53% $825,000 3.03%
Average Price $898,660 $797,607 12.67% $878,813 2.26%

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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