The Fraser Valley Real Estate Board recently published the MLS® statistics for the Abbotsford real estate market, among others, for October 2020.
In this post, we’re going to take a close look at key numbers for the Abbotsford townhouse market for October 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.
The situation is unprecedented. We are in the middle of a pandemic and in many of our communities we are seeing a strong seller's market for townhomes and single-family homes priced correctly. For example, in Langley, our current supply of detached homes would sell in 1.4 months if no new listings became available. And for Mission townhomes, we have zero months of inventory. If youre thinking of buying or selling, seek expert advice because every neighbourhood and property type is unique.
Chris Shields, President of the Board – President, Fraser Valley Real Estate Board
And we're going to look at how the Abbotsford MLS® numbers for October 2020 compare with the numbers for October 2019 and for September 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 October 2020.
- 76 Sales
- 96 New Listings
- 156 Active listings
- $476,300 Benchmark Price
- $507,000 Median Price
- $488,198 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 48.72%, indicating that it was a Seller's Market for townhouses in Abbotsford in October 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 October 2020:
- There were 76 townhouse sales in Abbotsford in October 2020 – an increase of 90.00% over October 2019 and a decrease of -8.43% over September 2020
- There were 96 new listings of townhouses in Abbotsford in October 2020 – an increase of 50.00% over October 2019 and a decrease of -19.33% over September 2020
- The average price of a townhouse in Abbotsford in October 2020 was $488,198 – an increase of 6.25% over October 2019 and a decrease of -5.32% over September 2020
If you're really keen to understand what happened in the market for townhouse in Abbotsford in October 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 October 2020 and see how it compares with the previous year and previous month.
Abbotsford Townhouse Stats
| Metric | Oct 2020 | Oct 2019 | % Change | Sep 2020 | % Change |
|---|---|---|---|---|---|
| Sales | 76 | 40 | 90.00% | 83 | -8.43% |
| New Listings | 96 | 64 | 50.00% | 119 | -19.33% |
| Active Listings | 156 | 156 | 0.00% | 162 | -3.70% |
| Benchmark Price | $476,300 | $456,000 | 4.45% | $468,500 | 1.66% |
| Median Price | $507,000 | $473,500 | 7.07% | $499,900 | 1.42% |
| Average Price | $488,198 | $459,477 | 6.25% | $515,609 | -5.32% |
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.