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

Comments are closed

Just Posted

Search continues for person seen floating in Coquihalla River in Hope

Rescuers halted the search Thursday night as darkness fell

Rescuers halt Coquihalla River search due to darkness, after reports of person in river

No information to indicate a child is involved, RCMP state, after this information surfaced on social media

Arrest at Abbotsford shopping centre

Man detained Thursday afternoon

Two Chilliwack women make weekly Crime Stoppers most wanted list

Ashley Felix and Raina McDonald wanted on unrelated issues

United Way grant provides food to 100 former prisoners, families

Abbotsford-based M2/W2 Association receives $25,000 to supply groceries

UPDATE: Military reservist facing 22 charges after allegedly ramming gates at Rideau Hall

The man, who police have not yet officially identified, will be charged with multiple offences

Greater Vancouver home sales start to tick up, with prices holding steady

Residential sales last month reached 2,443, a 64.5 per cent jump from May

Langley Lodge’s deadly outbreak declared over

Fraser Health and long-term care home administrator confirm Friday declaration

PHOTOS: South Surrey tractor project evokes ‘$1-million smile,’ helps connect neighbours

Retired Surrey firefighter Ron Henze began project for friend’s dad to fill time during pandemic

Alberta health minister orders review into response after noose found in hospital in 2016

A piece of rope tied into a noose was found taped to the door of an operating room at the Grande Prairie Hospital in 2016

B.C.’s major rivers surge, sparking flood warnings

A persistent low pressure system over Alberta has led to several days of heavy rain

B.C.’s Indigenous rights law faces 2020 implementation deadline

Pipeline projects carry on as B.C. works on UN goals

‘Mind boggling’: B.C. man $1 million richer after winning Lotto 6/49 a second time

David O’Brien hopes to use his winnings to travel and of course keep playing the lottery

White-throated sparrows have changed their tune, B.C. study unveils

Study marks an unprecedented development scientists say has caused them to sit up and take note

Most Read