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Abbotsford Townhouse Market Update February 2019

Home » Market Updates » Abbotsford Townhouse Market Update February 2019

The Fraser Valley Real Estate Board recently published the MLS® statistics for the real estate market, among others, for February 2019.

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

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

With inventory continuing to build, and prices softening across many of our areas and property types, buyers will be well positioned to make a move this spring.

Darin Germyn, President of the FVREB – President, Fraser Valley Real Estate Board

And we're going to look at how the Abbotsford MLS® numbers for February 2019 compare with the numbers for February 2018 and for January 2019.

Highlights of FVREB MLS® Data on Townhouse Listings and Sales

Here's a high-level snapshot of listing and sales activity for townhouses in February 2019.

  • 36 Sales
  • 78 New Listings
  • 154 Active listings
  • $378,000 Benchmark Price
  • $462,500 Median Price
  • $469,990 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 23.38%, indicating that it was a Seller's Market for townhouses in in February 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 and up-to-date data on MLS® listing and sales activity for townhouses, you need to speak with a real estate agent.

Townhouse Market Changes

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

  • There were 36 townhouse sales in in February 2019 – a decrease of -21.74% over February 2018 and an increase of 80.00% over January 2019
  • There were 78 new listings of townhouses in in February 2019 – an increase of 34.48% over February 2018 and an increase of 6.85% over January 2019
  • The average price of a townhouse in in February 2019 was $469,990 – a decrease of -2.10% over February 2018 and an increase of 17.28% over January 2019

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

Detailed Overview of the Market for Townhouses in

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

Townhouse Stats

Metric Feb 2019 Feb 2018 % Change Jan 2019 % Change
Sales 36 46 -21.74% 20 80.00%
New Listings 78 58 34.48% 73 6.85%
Active Listings 154 54 185.19% 141 9.22%
Benchmark Price $378,000 $371,600 1.72% $377,100 0.24%
Median Price $462,500 $497,400 -7.02% $407,500 13.50%
Average Price $469,990 $480,050 -2.10% $400,735 17.28%

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 real estate market.

Or, better still, speak directly with a real estate agent who specializes in townhouses who will be able to provide you with the most accurate, up to the minute information on – and insights into – the real estate market.

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