By Brad Richert. I don’t remember the last time the Abbotsford detached homes market was anything but a buyers market. Here we are – April 2013 and numbers show that listings are down, sales are up and Abbotsford has 5.3 months of inventory on the market – a balanced market. The benchmark price for Abbotsford homes is also up 1.8% from last year, to $426,600.
Abbotsford townhouses looked positive in March, but slid back in April, with a 15.1% sales to listing ratio. However, the lack of inventory continues to make townhouse statistic volatile. Benchmark price for an Abbotsford townhome is $238,600, -1.0% from 2012.
Apartment condos in Abbotsford have remained steady after a positive upswing through spring with 7.3 months of inventory on the market – or around 13.7% sales to listing ratio … still a buyers market, but as with last month, much better than the single digits we have seen over the past few years. Just as a sample: at this time last year, sales to listing ratios were at 6.9%. Benchmark price for an Abbotsford apartment is $176,100, an increase of 3.2%.
To summarize, Abbotsford values are looking positive all around as buyers continue to take advantage of low mortgage rates and sellers aren’t rushing to list properties after a slow winter.
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*Disclosure – the preceding represents the views of Brad Richert, REALTOR, and not of Macdonald Realty and/or any of its subsidiaries
Brad Richert can be found selling real estate throughout the Fraser Valley. He moderates the talklangley.com community forum & his articles can be found at theredtie.ca and on the Today Media Network. If you would like to contact Brad, you can reach him at bradrichert@macrealty.com
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Here are the actual numbers for Abbotsford
Abby April
Detached homes
Apr-13 Apr-12 % Change Mar 13 % Change
Sales 104 102 + 2.05% 82 + 26.8%
New Listings 173 229 – 24.5% 184 – 6.0%
Active Listings 553 676 – 18.2% 562 – 1.6%
Benchmark Price 426,600 418,900 + 1.8% 429,100 – 0.6%
Median Price 410,500 427,500 – 4.0% 430,250 – 4.6%
Average Price 446,222 461,678 – 3.3% 463,276 – 3.7%
Townhouses
Apr-13 Apr-12 % % Change Mar 13 % Change
Sales 33 41 – 19.5% 40 – 17.5%
New Listings 74 74 0% 62 +19.4%
Active Listings 218 218 0% 204 + 6.9%
Benchmark Price 238,600 241,000 – 1.0% 234,000 + 2.0%
Median Price 215,000 270,000 – 20.4% 266,000 – 19.2%
Average Price 245,653 268,249 – 8.4% 270,141 – 9.1%
Apartments
Apr-13 Apr-12 % % Change Mar 13 % Change
Sales 46 25 + 84% 43 + 7.0%
New Listings 90 107 – 15.9% 78 +15.4%
Active Listings 336 362 – 7.2% 322 + 4.3%
Benchmark Price 176,100 170,600 + 3.2% 174,500 + 0.9%
Median Price 154,500 180,000 – 14.2% 165,000 – 6.4%
Average Price 158,265 177,095 – 10.6% 180,405 – 12.3%