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Abbotsford Real Estate Year In Review 2010

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:

Condos in Abbotsford that sold in 2010: 553 units sold
Condos in Abbotsford that sold in 2009: 543 units sold

Townhomes in Abbotsford that sold in 2010: 357 units sold
Townhomes in Abbotsford that sold in 2009: 456 units sold

So we saw a drastic drop off in townhomes sold from 2009 to 2010 but a slight increase in condo sales.

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