Current: Abbotsford is in Stable Market with average listing inventories, 15 %SOLD rate and a 97% Sell/List Ratio.
(This means that on an average sale there is a $19,900 surplus from the original list price) Lesson
Most Active Range: Homes between $550,000 - $675,000 have a 25.6 %SOLD rate.
Least Active Range: Homes above $900,000 have a 7.3 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices decreased $24,312 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices decreased $46,900 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 325 homes are for sale & with the 15 %SOLD monthly rate gives us a ~7 months of inventory. 7% of the active listings have reduced their price by $26,313 on average or $24,900 median in the last month. We project Abbotsford to continue in Stable Market.
February's Real Estate Statistics shows some of our Markets stabilizing with 44% of Vancouver's Detached Markets increasing values this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $13,230 which is the same as last month's price drop of $13,255. On Average, the Fraser Valley's Market is balanced with just a $464 monthly price decrease. The following month's forecasts are continued Buyer's Detached Market across most of Vancouver and a Stable Market in the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 63% of Greater Vancouver (Lower Mainland) with decreasing prices. At the same time, 67% of Townhouse Markets are decreasing. (16 out of 28 Markets). We are forecasting a continued Buyers Market in all Condo/Townhouse Markets for the short term. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.