Prices slide as more homes on market in Abbotsford

In Abbotsford, more than 800 homes were actively for sale in April

Home sales in Abbotsford remained sluggish in April, leaving hundreds more properties up for sale this spring than in previous years.

Prices are down across the board from last spring, with single-family houses, townhouses and apartments all costing less than they did 12 months ago, according to new numbers from the Fraser Valley Real Estate Board. Those decreases, though, are slight and relative: homes are still selling for significantly more than they were just two years ago.

The FVREB reported that 844 homes were on the market in Abbotsford in April. That’s up more than 54 per cent from last April, when 547 properties were actively for sale. The surge, though, isn’t because of a dramatic increase in new listings in Abbotsford, which are even from last year for townhomes and houses, and down for apartments. Rather, across the region, apartments and townhomes are taking twice as long to sell, on average. Houses are taking 42 per cent longer, and most properties in all three categories are now on the market for more than a month.

“While it’s great to see the increase in inventory we were looking for, both buyers and sellers remain careful as pricing continues to climb,” FVREB president John Barbisan said in a press release.

The typical average house now costs about $805,500, according to the FVREB. That’s down 2.5 per cent from last year. A typical townhouse costs around $376,400, down 3.5 per cent, and a typical apartment can be had for about $320,700, down 7.5 per cent.

RELATED: April another lethargic month for Metro Vancouver home sales: Real estate board

RELATED: CMHC says overall housing market no longer highly vulnerable after prices ease


@ty_olsen
tolsen@abbynews.com

Like us on Facebook and follow us on Twitter.

Just Posted

More rescues, less flames: Future of Abbotsford firefighting up for discussion

Mayor says talks with province needed, councillors suggest city may need more full-time firefighters

String of purse snatches at Mill Lake in Abbotsford

Two women were mugged in a three week period starting Sept. 30

Harrison outdoor skating rink to open this weekend

Public skating will be open 10 a.m. to 9 p.m. daily

Mission principal saves goat, praised as hero by kindergarten students

“Today I get to be the hero in their eyes, changing the world one stuck goat at a time”

Abbotsford man’s murder trial set for January

David Albert Miller charged in death of 52-year-old woman in Kamloops

VIDEO: ‘Climate emergency’ is Oxford’s 2019 Word of the Year

Other words on the shortlist included ‘extinction,’ ‘climate denial’ and ‘eco-anxiety’

Canucks erupt with 5 power-play goals in win over Nashville

Vancouver ends three-game slide with 6-3 triumph over Predators

B.C. widow suing health authority after ‘untreatable’ superbug killed her husband

New Public Agency Health report puts Canadian death toll at 5,400 in 2018

65-million-year-old triceratops makes its debut in Victoria

Dino Lab Inc. is excavating the fossilized remains of a 65-million-year-old dinosaur

Changes to B.C. building code address secondary suites, energy efficiency

Housing Minister Selina Robinson says the changes will help create more affordable housing

Trudeau appears open to safer-opioid proposal in Vancouver: mayor

The city has applied for $6 million from Health Canada to allow for the safe distribution of diamorphine

Security guard at Kamloops music festival gets three years for sexually assaulting concertgoer

Shawn Christopher Gray walked the woman home after she became seperated from her friends, court heard

Most Read