Current: Abbotsford is in Sellers Market with average listing inventories, a 21 %SOLD rate and a 99% Sell/List Ratio.
(This means that on an average sale there is a $9,000 surplus from the original list price) Lesson
Most Active Range: Homes below $750,000 - $825,000 have a 31.9 %SOLD rate.
Least Active Range: Homes above $1.3 million have a 10.7 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices increased $134,176 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices increased $92,000 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 420 homes are for sale & with the 21 %SOLD monthly rate gives us a ~5 months of inventory. 10% of the active listings have reduced their price by $25,832 on average or $22,950 median in the last month. We project Abbotsford to continue in Sellers Market.
October's Real Estate Statistics show our Markets have NORMALIZED with just 33% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $10,887, which is less than the $12,693 decrease that we saw in the month prior. The Average Fraser Valley Markets are still stronger with a $1,381 monthly increase. Detached Markets values in October experienced an Average Monthly Price decrease of $1,381, which is a reduction of the $2,054 increase that we saw in the month prior. The FV is still a much stronger market than the Vancouver Detached Markets which just had a $10,887 monthly decrease. We are forecasting the beginning of Buyers Market across many Detached Markets, with Chilliwack being one of the last holdouts. We are forecasting the beginning of Buyers Market across most Detached Markets
Currently, the Attached Markets carry the day with 75% still increasing in Greater Vancouver (Lower Mainland) (43 of 58 Markets). We are forecasting a continued Seller's Market in the Attached Markets. We continue to 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 Neighbourhood.