Current: Abbotsford is in Sellers Market with average listing inventories, a 47 %SOLD rate and a 101% Sell/List Ratio.
(This means that on an average sale there is a $6,306 surplus from the original list price) Lesson
Most Active Range: Homes between $575,000 - $630,000 have a 60.4 %SOLD rate.
Least Active Range: Homes above $1.3 million have a 10.0 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices increased $145,392 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices increased $92,306 year-to-date..
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 206 homes are for sale & with the 47 %SOLD monthly rate gives us a ~2 months of inventory. 3% of the active listings have reduced their price by $24,328.57 on average or $25,400 median in the last month. We project Abbotsford to continue in Sellers Market.
May's Real Estate Statistics show ALL 97 Markets are in a Strong Sellers Market and by most accounts, exceeding the 2016 Market Furious Activity Levels. This Consumer Confidence is largely due in part to an increased demand from a Large Local Investor Component and Lower Inventory Levels. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of $40,337, which is a dramatic increase over the $23,408 increase that we saw in April and Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $25,106, which is a decrease from the $32,589 increase that we saw in April.
Currently 100% of the Attached Markets are increasing at a fast pace in Greater Vancouver's 58 Markets. Last year our Emotionally Charged Single Family Markets peaked in June/July and this year we are forecasting a prolonged Sellers Market across all 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.