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.
*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 firstname.lastname@example.org