Current: Abbotsford is in Stable Market with average listing inventories, 14 %SOLD rate and a 98% Sell/List Ratio.
(This means that on an average sale there is a $6,700 surplus from the original list price) Lesson
Most Active Range: Homes between $550,000 - $675,000 have a 28.6 %SOLD rate.
Least Active Range: Homes above $900,000 have a 3.3 %SOLD rate.
History: The Abbotsford Home Price Index HPIp (Top 50%) shows that prices decreased $38,275 year-to-date.
The Abbotsford Home Price Index HPIp (Lower 50%) shows that prices decreased $42,709 year-to-date.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Abbotsford has average Listing supply; 398 homes are for sale & with the 14 %SOLD monthly rate gives us a ~7 months of inventory. 13% of the active listings have reduced their price by $39,454 on average or $25,100 median in the last month. We project Abbotsford to continue in a Stable Market.
May's Real Estate Statistics shows 64% of Vancouver's Detached Markets values decreased this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $14,880, which is a significant decline from last month's $8,007 price drop. On the other hand, the Fraser Valley shows a steady Market with the monthly price increase of $1,580. The following month's forecasts for Detached Homes are: a continued Buyer's Market across most of Vancouver and a Stable Market over most of the Fraser Valley.
Currently, the Condo Market presents a Warmer Market with 43% of the Greater Vancouver (Lower Mainland) Condo Prices Increasing. On the same note, 46% of the Townhouse Markets are Increasing. (13 out of 28 Markets). We are forecasting a Buyers’ Market in most Condo and Townhouse Markets for the coming 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 Neighborhood.