Current: Abbotsford is in Stable Market with average listing inventories, 13 %SOLD rate and a 97% Sell/List Ratio.
(This means that on an average sale there is a $20,900 surplus from the original list price) Lesson
Most Active Range: Homes below $550,000 have a 31.3 %SOLD rate.
Least Active Range: Homes above $1.3 million have a 3.3 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices increased $62,424 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices increased $36,054 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 483 homes are for sale & with the 13 %SOLD monthly rate gives us a ~8 months of inventory. 20% of the active listings have reduced their price by $35,930 on average or $29,000 median in the last month. We project Abbotsford to continue in Stable Market.
October's Real Estate Statistics show our Markets have started to Stablize with 48% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $7,184, which is less than the $9,914 decrease that we saw in the month prior. On Average, Out in the Fraser Valley, the Markets decreased $4,586 this month. Consumer confidence has been boosted with our new NAFTA-USMCA trade agreement but offset with the continued tougher mortgage lending rules and interest rate increases. We are still forecasting a Stable Market across most Detached Markets for the following month.
Currently, the Condo Market continues to present a Cool Market with 63% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 61% of the Townhouse Markets are decreasing (11 out of 28 Markets). We are still forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. 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.