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Abbotsford Townhouse Market Update April 2019

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

In this post, we’re going to take a close look at key numbers for the Abbotsford townhouse market for April 2019 – including sales, new listings, active listings, as well as benchmark, median and average prices for townhouses for sale in Abbotsford.

We're also going to see what kind of shape the townhouse market in Abbotsford was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.

Consumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we're seeing that reflected in our MLS® data. Detached homes under one million dollars and attached homes – ranging from $400,000 to $700,000 – continue to attract buyers in the Fraser Valley. Townhome sales in Abbotsford increased by almost 60 per cent compared to March and were on par with last year's April sales.

Darin Germyn, President of the FVREB

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

Key Highlights of the Abbotsford Real Estate Market for Townhouses

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

  • 62 Sales
  • 100 New Listings
  • 185 Active listings
  • $376,400 Benchmark Price
  • $486,250 Median Price
  • $472,586 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 33.51%, indicating that it was a Seller's Market for townhouses in Abbotsford in April 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 Townhouse Market Changes

Following are some of the highlights for townhouses for sale in Abbotsford in April 2019:

  • There were 62 townhouse sales in Abbotsford in April 2019 – a change of 1.64% over April 2018 and a change of 58.97% over March 2019
  • There were 100 new listings of townhouses in Abbotsford in April 2019 – a change of -0.99% over April 2018 and a change of 7.53% over March 2019
  • The benchmark price of a townhouse in Abbotsford in April 2019 was $376,400 – a change of -3.54% over April 2018 and a change of 0.40% over March 2019

If you're really keen to understand what happened in the market for townhouse in Abbotsford in April 2019, make sure you check out the next section.

Detailed Overview of the Market for Townhouses in Abbotsford

Check out the table below for more detailed information on what happened in the Abbotsford townhouse market in April 2019 and see how it compares with the previous year and previous month.

Abbotsford Townhouse Stats

MetricApr 2019Apr 2018% ChangeMar 2019% Change
Sales62611.64%3958.97%
New Listings100101-0.99%937.53%
Active Listings1859692.71%186-0.54%
Benchmark Price$376,400$390,200-3.54%$374,9000.40%
Median Price$486,250$503,000-3.33%$457,5006.28%
Average Price$472,586$485,050-2.57%$464,4491.75%

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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