So what is the Abbotsford market doing these days? I get asked this question alot. The other question is "what is the Abbotsford Real estate market going to do?"
I can tell you what the Abbotsford market is doing, I really wish I could answer the latter with utmost certainty.
I have been a Realtor in Abbotsford for 20 years now and I can say prices have gone up, and I can say that I was right when I told my clients to buy and hold. Of course I state this tounge in cheek, of course something you bought 20 years ago will be worth more now.
Abbotsford Real Estate, Langley Real Estate, vancouver Real Estate and all the other areas are doing the same and differerent. I know this sounds confusing but let me try to explain.
All areas have pockets that do well and not so well, all areas have types of home that are selling and types that are not, and that differs in each pocket of each area. New homes in West Van may be selling like borscht at the Mennonite food sale but condos in the same area are doing very little. In Abbotsford town houses on the East side of Abbotsford are selling great but not on the west side.
Here is a snap shot of the market in general for Abbotsford.
New listings 182,
Total Listings 650
Median ptice $399,000
Sales are down, listings are up so we should see more of a decrease in price over the next few weeks and months. Unless everyone decides to keep their price then we will see sales decrease even more.
Stay tune for more up dates on the Abbotsford Real estate market and other areas as well.