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The Condo Seller's Blog

The Condo Seller's blog about Abbotsford condo market.
Weekly Report - Abbotsford Condo Market (August 24-30, 2008)

Abbotsford Condo Stats19 new apartment units were listed for sale on the MLS system this week, but the total number of available units remains unchanged from previous week. The average asking price for new listings for the week is $197,341. The most expensive listing of the week is a 1120 Sq Ft unit in the Garibaldi lane. Approximately 13 listings were either cancelled or failed to sell. That's why the total number of available listings remains at 324, same as the week of Aug 17-23, 2008. 8 condos were sold this week for the average price of $177350 which is little higher than the last week.

Higher number of available listings is putting some negative pressure on the prices. Most people are adjusting their prices according to the market, but properly priced units are still selling fairly quickly.

Notable sales:

  • 720 Sq Ft, 2 bedroom/1bath units in the Viva on Park sold for $186,000.
  • 2 bedroom, 921 Sq Ft "fixer upper" unit in the Cascade Green sold for only $145,000.
  • 1 bedroom unit in the Valley View Terrace that sold for $128000 was the cheapest listing to sell this week.

Next week we'll bring you more details of the Abbotsford condo market. Feel free to ask a question in the comments section or contact us anytime.

Posted: Sunday, August 31, 2008 9:47 AM by Raj Dhaliwal
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