Current: Abbotsford is in Sellers Market with average listing inventories, a 20 %SOLD rate and a 98% Sell/List Ratio.
(This means that on an average sale there is a $10,900 surplus from the original list price) Lesson
Most Active Range: Homes below $550,000 have a 57.9 %SOLD rate.
Least Active Range: Homes between$950,000 - $1.3 million have a 10.3 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices increased $153,000 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices increased $97,057 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 393 homes are for sale & with the 20 %SOLD monthly rate gives us a ~5 months of inventory. 9% of the active listings have reduced their price by $20,766 on average or $18,995 median in the last month. We project Abbotsford to continue in Sellers Market.
November's Real Estate Statistics show 67% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $3,870, which is much better than the $10,887 decrease that we saw in the month prior. The Average Fraser Valley has a stronger Market with their $6,132 monthly increase, which is better than the $1,381 increase that we saw in the month prior. With the pending higher mortgage rates, much tougher mortgage lending rules, pending trade tariffs and the chilly economic winds arriving starting in January, we are forecasting the beginning of Buyers Market across most Detached and Townhouse Markets.
Currently, the Condo Markets set the pace with 83% still increasing in Greater Vancouver (Lower Mainland) (25 of 30 Markets). We are forecasting a continued Seller's Market in the Condo Markets for the following month. 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.