It was another successful year in the Abbotsford Real Estate market although not as good as 2009. There were 1,103 houses sold in Abbotsford in 2010 which is down from the 1,375 that sold in 2009. There were a few reasons that likely contributed to the decline. The implementation of the HST, although only connected to the new housing market in Abbotsford, most people I speak with ‘assumed’ it was connected to all home sales. The new lending rules (forcing all mortgage qualifiers to qualify for the standard 5 year fixed rate even if they were going to a different rate and term.
Here are the comparison of condos and townhomes sales in Abbotsford from 2009 to 2010 and then for previous years:
So we saw a drastic drop off in townhomes sold from 2009 to 2010 but a slight increase in condo sales.