The Fraser Valley Real Estate Board recently published the MLS® statistics for the Abbotsford real estate market, among others, for March 2020.
In this post, we’re going to take a close look at key numbers for the Abbotsford townhouse market for March 2020 – 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.
Supply is a challenge currently in some areas and for certain property types. In February, in Langley for example, for every 10 active townhomes, six sold. In Cloverdale, there were 26 active condo listings last month; and 20 sold.
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 March 2020 compare with the numbers for March 2019 and for February 2020.
Highlights of FVREB MLS® Data on Abbotsford Townhouse Listings and Sales
Here's a high-level snapshot of listing and sales activity for Abbotsford townhouses in March 2020.
- 33 Sales
- 77 New Listings
- 126 Active listings
- $382,100 Benchmark Price
- $489,900 Median Price
- $487,551 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 26.19%, indicating that it was a Seller's Market for townhouses in Abbotsford in March 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 townhouses, 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 March 2020:
- There were 33 townhouse sales in Abbotsford in March 2020 – a decrease of -8.33% over March 2019 and a decrease of -2.94% over February 2020
- There were 77 new listings of townhouses in Abbotsford in March 2020 – a decrease of -1.28% over March 2019 and an increase of 83.33% over February 2020
- The average price of a townhouse in Abbotsford in March 2020 was $487,551 – an increase of 3.74% over March 2019 and an increase of 4.21% over February 2020
If you're really keen to understand what happened in the market for townhouse in Abbotsford in March 2020, 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 March 2020 and see how it compares with the previous year and previous month.
Abbotsford Townhouse Stats
| Metric | Mar 2020 | Mar 2019 | % Change | Feb 2020 | % Change |
|---|---|---|---|---|---|
| Sales | 33 | 36 | -8.33% | 34 | -2.94% |
| New Listings | 77 | 78 | -1.28% | 42 | 83.33% |
| Active Listings | 126 | 126 | 0.00% | 95 | 32.63% |
| Benchmark Price | $382,100 | $378,000 | 1.08% | $380,600 | 0.39% |
| Median Price | $489,900 | $462,500 | 5.92% | $475,000 | 3.14% |
| Average Price | $487,551 | $469,990 | 3.74% | $467,834 | 4.21% |
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 townhouses 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.