Current: Abbotsford is in Sellers Market with average listing inventories, 16 %SOLD rate and a 99% Sell/List Ratio.
(This means that on an average sale there is a $9,794 surplus from the original list price) Lesson
Most Active Range: Homes between $1 mill. - $1.1 mill. have a 50.0 %SOLD rate.
Least Active Range: Homes above $1.3 million have a 7.6 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices increased $200,722 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices increased $117,421 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 304 homes are for sale & with the 16 %SOLD monthly rate gives us a ~6 months of inventory. 4% of the active listings have reduced their price by $54,066 on average or $42,500 median in the last month. We project Abbotsford to continue in Sellers Market.
January's Real Estate Statistics shows just 44% of Vancouver's Detached Markets increased values. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $12,262, which the same as the $12,671 decrease that we saw in the month prior. On the Average Fraser Valley still has a stronger Market with their $7,012 monthly increase. With the much tougher mortgage lending rules upon us, the higher interest rates, pending trade tariffs and chilly economic winds arriving, we are forecasting the beginning of Buyers Market across most Detached Markets.
Currently, the Condo Markets set the breakneck pace with 93% increasing in Greater Vancouver (Lower Mainland) (28 of 30 Markets). We are forecasting a continued Seller's Market in the Condo Markets for the following months. 57% of the Townhouse Markets are currently increasing (16 out of 28 Markets), but we do expect this market to shift to a Buyer’s Market in the next few months. There is a Notable difference between the top 50% of the markets which are slowing down and decreasing over the much stronger bottom 50% of the markets. 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 Neighbourhood.