Current: Abbotsford is in Stable Market with average listing inventories, 15 %SOLD rate and a 97% Sell/List Ratio.
(This means that on an average sale there is a $19,900 surplus from the original list price) Lesson
Most Active Range: Homes between $550,000 - $675,000 have a 25.6 %SOLD rate.
Least Active Range: Homes above $900,000 have a 7.3 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices decreased $24,312 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices decreased $46,900 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 325 homes are for sale & with the 15 %SOLD monthly rate gives us a ~7 months of inventory. 7% of the active listings have reduced their price by $26,313 on average or $24,900 median in the last month. We project Abbotsford to continue in Stable Market.
March's Real Estate Statistics shows some of our Markets are NORMALIZING with 54% of Vancouver's Detached Markets increasing values this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $5,048 which is an improvement from last month's $13,230 price drop. On Average, the Fraser Valley's Market significantly improved with $2,661 monthly price increase. The following month's forecasts are: a Stable Detached Market across most of Vancouver and a Seller Market in the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 67% of the Greater Vancouver (Lower Mainland) are decreasing prices. On the other hand, 61% of the Townhouse Markets are increasing. (17 out of 28 Markets). We are forecasting a continued Buyer’s Market in all Condo Markets whereas Townhouse Markets are Stabilizing. 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 Neighborhood.