Abbotsford, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $720,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $420,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $600,000 |
| 3 bedrooms | $720,000 |
| 4 bedrooms | $850,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $350,000 |
| 2 bedrooms | $420,000 |
| 3 bedrooms | $500,000 |
Demographics
| Current Population (2025) | 160,000 |
| Previous Population (2020) | 158,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 70,000 |
| Occupied Private Dwellings | 65,000 |
| Population Density (per km²) | 2.2 |
| Land Area (km²) | 3,750.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Abbotsford, British Columbia is currently experiencing a period of steady growth. With a median house price of $720,000, the market has seen a year-over-year increase of 4.2%. This incremental growth indicates a stable market environment, which is reassuring for both homeowners and potential buyers.
The apartment sector also reflects consistent growth, with the median apartment price reaching $420,000, marking a 2.8% rise from the previous year. Such an uptrend suggests that not only single-family homes but also multi-family dwellings are in demand.
Abbotsford’s growing population of 160,000, increasing at a rate of 1.3% per annum, underpins the continuous demand for housing in the region. This steady population growth ensures that there is a consistent influx of potential homebuyers and renters entering the market.
Investment Opportunities and Potential
Given the current market conditions, Abbotsford presents several attractive investment opportunities. The consistent appreciation in property values provides investors with promising capital gains prospects over the medium to long term.
Single-family homes represent a solid investment category due to their higher appreciation rate of 4.2% annually. However, apartments should not be overlooked as their slightly lower appreciation rate of 2.8% is coupled with potentially higher rental yield prospects given the diverse housing needs of the population.
Moreover, with ongoing population growth and subsequent housing demand, investment in new construction and development projects could cater to this expanding market segment. The need for affordable housing solutions further broadens the scope for investors to explore innovative real estate products that meet this demand.
Future Market Outlook
Looking ahead, Abbotsford’s real estate market shows signs of continued resilience. The combination of steady population growth and economic stability suggests that both the residential and rental markets will maintain their upward trajectory.
The projected future stability in house prices provides a favorable environment for long-term investment strategies. While no market is without risk, current trends indicate that Abbotsford’s real estate market may experience sustainable growth going forward.
Investors and stakeholders should keep an eye on economic indicators such as employment rates and regional development plans, as these will play significant roles in shaping future market conditions.
