Abbotsford neighborhood in top 10 hot spots

Abbotsford neighbourhoods scored #8 on the list of hottest neighborhoods in lower mainland in a recent study. This study conducted for real estate firm Century 21 Canada was focused on finding the 21 hottest neighborhoods in Canada for realizing real estate price increases in the past year.

Abbotsford neighborhoods that showed real estate price increases are parts of West, South and Central Abbotsford bounded by the United States border and Downes Rd. on the south and north and by Gladwin Rd. and Mt. Lehman Rd. on the east and west is the eighth hottest neighbourhood in the Lower Mainland according to the Century 21 study. The survey covered Canada Post Forward Sorting Areas (FSAs) which are the equivalents of large neighborhoods. FSAs are the first three digits of Canada’s postal codes. The FSA in Abbotsford that was placed in top ten is V2T. Take a look at the map below.

In this neighborhood, average prices were $285,601 in April 2009, an increase of 11.61% from $252,437 in March 2009 and a decline of 12.09% from $324,891 in April 2008.

Now what does this survey tell us? Focus on the area when buying a home. National, provincial and local trends do affect the market but real estate is all about location, location and location.

June 11, 2009