Halton Hills Housing Update - Ep. 108

Tuesday Mar 01st, 2022


Welcome to this week's Halton Hills housing update. So I have February's unofficial numbers as well as what happened last week so let's dive in. In February of 2021 we sold 79 units and our average price was 1.117. This month we, in February of 2022, we sold 88 units. So that's up 11%. And that supports what I've been saying that our inventory is higher than it would normally be. So because there's things to buy our units that sold is up. No surprise there. In terms of average price of course the pricing is gonna be up. So we are up 27% versus last year and our average price is 1.423 million in all of Halton Hills. So big, big jump versus last year, but no real surprise with the numbers we've been seeing.

In Georgetown this week we had 26 properties sell, a huge number, again, that was a bit skewed because of the long weekend last week and reporting being delayed but still 26 properties sold, 26 of them sold over asking. We only had 16 new properties so that means inventory took a big drop, unfortunately. Acton this week had five sales, four of them sold over asking, and there was six new listings. Glen Williams had one sale. It got over asking and no new listings. Nothing happening in Limehouse, no sales, no new listings. The rural market had no sales but it did have two new listings.

Now looking at active inventory. Halton Hills is down to 50 active listings from 57. So not a huge drop, but not the direction we wanna be going. Georgetown is down to only 28 active listings from 37. So lots of sales and just not enough new product coming on. Looking at our price points, under 700,000 drop from four to two, seven to 800,000 is the only price point up this week, it's up to three active listings from two. 800 to a million is down slightly to eight active listings and the million plus price point dropped pretty significantly this week from 21 to 15 active listings. So we're in the same situation here. If we can see inventory coming on, it's being bought and our sales are high, but when we have slow listing weeks like all the numbers just drop. So it's, I was really hoping that we were like on this big rebound and I think it may go week to week here but either way we are way up from January and people have some options sort of, so that's promising. Acton this week, inventory's up to 12 active listings. That's the highest number we've seen in a long time. Glen Williams has no active listings. Same with Limehouse, no active listings. And the rural market is up slightly this week to 10 active listings but that's still really low for the rural market. And you need 1.78 million to start there.

So overall February numbers, no huge surprise, but in terms of our current market, it was so like, oh, it felt you know, three weeks of it's going up, it's going up. And then we just didn't see the new listings to support it. So that's not ideal. So I do think that the trend and sort of what we're seeing is that people are listing their spring market homes a little bit earlier, the word's sort of getting out but the buyers are still here and we're still seeing lots of showings, lots of multiple offers. And it's just not going away I don't think anytime soon but I do feel like it's not the same out there. It feels a bit different. And it's definitely nowhere where we were in January when literally if you were the only house on like of course you're gonna have 50 to 100 showings. That's not really the case right now. So things are changing, not very fast, but they are slowly feeling like they're changing. So that is promising. So I will be back next Tuesday, have a great week everyone.


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