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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

VIDEO: Abbotsford church posts Rosary prayer video for doctors and nurses

St. Anne’s Roman Catholic Church supports frontline healthcare workers online with video

The Reach Gallery in Abbotsford offers virtual exhibits and learning activities

New online resources developed during period of self-isolation

Abbotsford citizens rally for struggling young family with donations amid pandemic

Expecting mother reached out online for help, community response brought her to tears

VIDEO: Surprise drive-by birthday held for Abbotsford teenager’s 13th

Friends wave from vehicles to adhere to social distancing

High cost, limited coverage for asthma medicine a concern during COVID-19

Abbotsford man says he skips puffs to save money, but others have it worse

‘We will get through this’: B.C. sees new COVID-19 death, but 57% have recovered

A total of 1,066 people have tested positive for the novel coronavirus

Association launches French-language games, online tools for families learning at home

Games, culture and vocabulary included in new virtual resources

‘There can be no ambiguity’: Travellers brought home to B.C. must self-isolate

Health Minister Adrian Dix had sharp words for those arriving from overseas abiding by federal law

COVID-19: Fraser Valley crafters are busy sewing cotton masks for health-care workers and others

One Chilliwack woman has made 125 masks so far, and is still going strong

55+ BC Games cancelled amid COVID-19 concerns

Greater Victoria set to host 2021 event

BC Hydro offers three-month bill ‘holiday’ for those affected by COVID-19

Industrial customers can defer half of their power bills

VIDEO: Dog missing in Lower Mainland since winter sees his family again for the first time

Aldergrove helped find Buster, says dad, who has now witnessed ‘the power of social media’

Some April Fool’s Day jokes bring much-needed laughter; others tone deaf to COVID-19

Police are warning the public not to use the ongoing pandemic as a punchline

Canada’s 75% wage subsidy is coming, but not for several weeks: finance minister

Subsidy will cost Canada $71 billion, but push down cost of emergency benefit, Morneau said

Most Read