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Abbotsford Townhouse Market Update March 2019

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

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

From a buyer’s perspective, there are more opportunities available as we move deeper into spring. Many of our communities are seeing higher inventory levels, especially in the attached market with the number of available townhomes almost doubling and Fraser Valley condos more than doubling compared to last year.

Darin Germyn, President of the FVREB

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

  • 39 Sales
  • 93 New Listings
  • 186 Active listings
  • $374,900 Benchmark Price
  • $457,500 Median Price
  • $464,449 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 20.97%, indicating that it was a Seller's Market for townhouses in Abbotsford in March 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 March 2019:

  • There were 39 townhouse sales in Abbotsford in March 2019 – a change of -29.09% over March 2018 and a change of 8.33% over February 2019
  • There were 93 new listings of townhouses in Abbotsford in March 2019 – a change of 12.05% over March 2018 and a change of 19.23% over February 2019
  • The benchmark price of a townhouse in Abbotsford in March 2019 was $374,900 – a change of -2.11% over March 2018 and a change of -0.82% over February 2019

If you're really keen to understand what happened in the market for townhouse in Abbotsford in March 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 March 2019 and see how it compares with the previous year and previous month.

Abbotsford Townhouse Stats

MetricMar 2019Mar 2018% ChangeFeb 2019% Change
Sales3955-29.09%368.33%
New Listings938312.05%7819.23%
Active Listings18673154.79%15420.78%
Benchmark Price$374,900$383,000-2.11%$378,000-0.82%
Median Price$457,500$526,000-13.02%$462,500-1.08%
Average Price$464,449$519,020-10.51%$469,990-1.18%

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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