Abbotsford, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $648,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.4% |
| Stock on market | 1.5% |
Apartment
| Median price | $400,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $550,000 |
| 3 bedrooms | $648,000 |
| 4 bedrooms | $750,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $320,000 |
| 2 bedrooms | $400,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 162,000 |
| Previous Population (2020) | 159,000 |
| Population Change | 1.9% |
| Total Private Dwellings | 65,000 |
| Occupied Private Dwellings | 62,000 |
| Population Density (per km²) | 2.4 |
| Land Area (km²) | 375.5 |
Market Analysis
Current Market Conditions and Trends in Abbotsford, BC
The Abbotsford real estate market is currently experiencing moderate growth. The median house price stands at $648,000, reflecting a year-over-year increase of 2.4%. This uptick indicates a stable market with consistent demand for housing. Similarly, the median apartment price has reached $400,000, with a slightly lower year-over-year growth of 1.9%. This differential in growth rates suggests that while both segments of the market are expanding, houses are seeing marginally more demand than apartments.
The population of Abbotsford has grown to 162,000, with a steady growth rate of 1.9%. This demographic expansion underpins the persistent demand for housing and helps sustain the real estate market’s vitality. As new residents move into the area seeking employment or lifestyle changes, the need for diverse housing options becomes more pronounced.
Investment Opportunities and Potential in Abbotsford
Abbotsford offers promising investment opportunities given its sustained population growth and stable property value appreciation. The housing market’s gradual price increase suggests that investments made in residential real estate are likely to benefit from steady capital gains over time. Investors looking for long-term growth may find particular potential in single-family homes due to their higher appreciation rate compared to apartments.
Additionally, rental properties may present an attractive opportunity given the influx of new residents. With proper management, investors could capitalize on rental income while also benefitting from property value appreciation.
Future Market Outlook for Abbotsford Real Estate
The outlook for Abbotsford’s real estate market remains positive. The alignment of population growth with property value increases signifies a balanced expansion that is likely to continue. Assuming the local economy remains stable and supportive of job creation, the demand for housing should persist, reinforcing a constructive environment for both homeowners and investors.
However, as with any market forecast, it is important to monitor external factors such as interest rates, economic policies, and regional developments which could impact market dynamics. Investors and prospective homeowners should stay informed about local and national trends that could influence the future trajectory of Abbotsford’s real estate market.
