We are in a scorching hot real estate market in the Fraser Valley of British Columbia right now. Yes, even the city of Abbotsford is on fire. Although the agent talk on the street, is that there is
How Hot Was That Listing on 35445 Delair Road Abbotsford?
Dated: August 4 2021
We are in a scorching hot real estate market in the Fraser Valley of British Columbia right now. Yes, even the city of Abbotsford is on fire. Although the agent talk on the street, is that there is a slight cooling from the insane peak from a few months ago. Let's look at some stats. So far in May, compared to the previous month, we have almost 1000 fewer listings, but only 78 less sales. You can see how much more action there is from May 2020.
Now let's dive into a bit more specific area. The Subject property was in East Abbotsford, and we will look at detached homes with 4 or more bedrooms, between 2000'-3799'.
As you can see in February 2021, the sell through rate in East Abbotsford, for detached homes with 4 or more bedrooms, between 2000'-3799' was 127.3% ?!?!?! How can there be more sales than listings? Well, sometimes the data is delayed from when it sells, and when it gets counted. You can see there is a slight taper down from March 2021 into April 2021. We won't have May 2021 data, until May is completed. Just to give you some perspective. When the sell through rate is over 20%, we are in a SELLER's market. Wow, I think we still are in a seller's market.
Now what are these East Abbotsford detached homes selling for?
You can see that in East Abbotsford, detached homes with 4 or more bedrooms, between 2000'-3799', were selling at 106% of asking price. Then if you can believe it, in March 2021, the median percent of original listing price sale, was 108.2%! April 2021 saw a slight drop to 106.2% of list price. We will have to wait and see where we landed in May.
Let's take a look at the 35445 Delair Road Abbotsford listing and marketing stats. After being on the market for 1 week:
We had 37 confirmed showings happen, with 35 different Realtor's, throughout the week. The majority of Realtor's were from the Fraser Valley and The Lower Mainland, including; Abbotsford, Langley, White Rock, Surrey, Coquitlam, Mission, and Chilliwack.
Potential buyers were local people in BC, as well as from Saskatchewan, and Alberta, from what I found out. On our offer date, that was set out 1 week after going live on MLS, we had 3 different parties make offers with their Realtor's. We have an accepted offer as of now. The funny thing is, there still was a handful of Realtor's that were interested in the property, but did not want to make an offer, due to not wanting a bidding war. I heard a number of times: "if it is still available tomorrow, we will put an offer in." I get it, there is some buyer fatigue out there in the market, and buyer's are getting tired of going into multiple offer situations. Right after we accepted an offer, I had a Realtor phone me and ask if it was still available. Obviously people want the property, but a lot of interested parties stood on the sidelines hoping to jump on it after offer date.
So how did I get all the interest directed to this listing?
Facebook Stats. From May 13-May 18. My main FB post received 2385 views and 184 clicks. Another listing post received 153 engagements, my Facebook shop reached 88 different people, then other posts on Facebook reached 61, and 88 people. 71 views on Facebook Marketplace listing.
My Instagram main post reached 225 people, 40 likes, 3 website clicks, and the IG video reached 144 people. The new "For Sale" sign photo reached 502 people and created 19 actions from the post during the week.
The video on Vimeo received 609 views, and 34 views from my unique page with the video on youtube.com
Other web marketing impressions:
3112 Impressions on my Ottlistings.com boosted listing post that led to 120 clicks.
101 views on my blog post about this listing's revenue earning potential, plus 12 more views on my "Just Listed" blog post for this listing in less than the 1 week time frame.
Plus: Eximus Marketing Systems online advertising, print ads, mail outs, IG stories, Linkedin posts, Twitter posts, Kijiji, other syndicated web stats, and email blast stats are not available at this time.
Now here is the most surprising stat of all, especially when you realize that 92% of Canadians know about Realtor.ca:
In one week of being on Realtor.ca, there were 492 views from that website.
As you can see, social media, blogging, and other sites, brought a lot of traffic and attention to this listing. This should tell you that you should not rely on MLS / Realtor.ca alone, if you want to bring the most attention to your listing. Contact me for an in depth marketing plan for your next listing and find out how you can generate the most attention for your listing.
Born and raised in Abbotsford, I am deeply connected to the land, people, and community in the Fraser Valley. I decided to pursue my passion in Real Estate, after I realized how much I enjoyed the pro....
Latest Blog Posts
UPDATE-This home is now SOLD as of June 1, 20201 I am very excited to introduce this home to the Abbotsford, BC Real Estate Market during this hot, unprecedented market. This home has a lot to
The big question today in this hot British Columbia, Fraser Valley Real Estate Market:Is Real Estate Still A Good Investment? Let’s break down this question, and go over a few basic