Current: Abbotsford is in Stable Market with average listing inventories, 12 %SOLD rate and a 98% Sell/List Ratio.
(This means that on an average sale there is a $14,900 surplus from the original list price) Lesson
Most Active Range: Homes between $550,000 - $675,000 have a 31.3 %SOLD rate.
Least Active Range: Homes above $1.3 mill. have a 2.0 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices increased $24,000 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices increased $1,402 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 387 homes are for sale & with the 12 %SOLD monthly rate gives us a a ~8 months of inventory. 8% of the active listings have reduced their price by $35,357 on average or $28,100 median in the last month. We project Abbotsford to continue in Stable Market.
May's Real Estate Statistics shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $2,796 which is a slight increase over last month's increase. On the Other hand, May's Real Estate Statistics shows 61% of Fraser Valley's Detached Markets increased values this month. Fraser Valley's Single Family Homes had a $1,220 monthly price increase. We are all surprised at the Market resilience with our large drops in sales during the pandemic. It turns out that the few buyers we had competed for the very low listing inventories. Now we are seeing a trend of substantial new listings increases and are forecasting a stable Market this coming month.
Currently, Condos are in a Seller Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $894. At the same time, the Townhouse Markets increased $1,243. That is 71% increased (20 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every Saturday. 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.