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Abbotsford Townhouse Market Update June 2018

The Fraser Valley Real Estate Board recently published the statistics for the Abbotsford real estate market, among others, for June 2018.

In this post, we’re going to take a close look at key numbers for the Abbotsford townhouse market for June 2018 – 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.

Demand is shifting back towards typical levels for our region, and market activity is reflecting that. This has given our inventory a much-needed chance to recover and move the Valley towards a more balanced real estate landscape.

John Barbisan, President of the FVREB

And we're going to look at how the numbers for June 2018 compare with the numbers for June 2017 and for May 2018.

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 June 2018.

  • 47 Sales
  • 95 New Listings
  • 141 Active listings
  • $409,400 Benchmark Price
  • $475,000 Median Price
  • $471,229 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 33.33%, indicating that it was a Seller's Market for townhouses in Abbotsford in June 2018 (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 June 2018:

  • There were 47 townhouse sales in Abbotsford in June 2018 – a change of -25.40% over June 2017 and a change of -25.40% over May 2018
  • There were 95 new listings of townhouses in Abbotsford in June 2018 – a change of 20.25% over June 2017 and a change of -12.84% over May 2018
  • The benchmark price of a townhouse in Abbotsford in June 2018 was $409,400 – a change of 27.42% over June 2017 and a change of 3.54% over May 2018

If you're really keen to understand what happened in the market for townhouse in Abbotsford in June 2018, 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 June 2018 and see how it compares with the previous year and previous month.

Abbotsford Townhouse Stats

MetricJun 2018Jun 2017% ChangeMay 2018% Change
Sales4763-25.40%63-25.40%
New Listings957920.25%109-12.84%
Active Listings1417685.53%12611.90%
Benchmark Price$409,400$321,30027.42%$395,4003.54%
Median Price$475,000$440,0007.95%$505,000-5.94%
Average Price$471,229$435,0658.31%$496,952-5.18%

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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