Halton Hills Housing Update - Ep. 181

Monday Aug 28th, 2023


Hi, everyone. Welcome to this week's Halton Hills housing update. So, not as dramatic of an update this week. The numbers are still interesting and they are definitely trending in the direction that I thought they were going to be trending. But, what's interesting is that properties are coming off the market now and it's kind of keeping things at bay again. So, looking at last week's numbers, Georgetown only had six sales. Again, this is a very slow week in Georgetown, especially when we have a lot of inventory available. There were also ten new listings, so definitely not as dramatic as last week (which was 27 new listings). There were still more listings than sales this week which is a bit of a cause for concern.

In Acton this week, we had one sale and four new listings. So, inventory is up in Acton. Glen Williams had one sale and no new listings. Limehouse had no sales and no new listings. The rural market saw no sales this week, which is the first time in a while, and two new listings. So again, we are seeing new listings coming up. This week we had 16 new listings and only eight sales in all of Halton Hills. However, there were eight properties that came completely off of the market. So that gap between the sales and the listings is almost eliminated by the properties that came off the market this week. They also varied in terms of where they came off the market from- some in Georgetown, one in Limehouse and some in the rural market. It just shows you that our inventory will spike if people stop taking their houses off. Eight listings coming off the market essentially drops inventory by eight. So, it gives that gap even though we're not seeing the sales. I hope that makes sense.

Looking at active inventory, all of Halton Hills is actually down this week, thanks to that eight off the market, from 157 to 153 active listings. So again, a lot higher than where we've been coming from, but we are down week to week. Georgetown this week is up slightly to 92 active listings. We are just one really big listing week away from being over 100 in Georgetown, which we have not seen in like a year. So, it will be really interesting to watch where this goes as we go into the September market. So now looking at our price points, under $800,000 is up slightly from ten to eleven active listings. That's quite a bit for that pocket. 800 to a million remained the same at twelve. Again, that pocket still continues to keep our market moving right now, and we're not seeing a huge spike in inventory there because people are still buying under a million. One to 1.5 million due to termination, is down slightly from 38 to 37 active listings, but this is the price point that we are really watching because it's taken a significant climb and if that price point keeps climbing, it's going to impact the overall market. 1.5 million plus is up slightly this week from 31 to 32 active listings. So, not a massive jump, but that is an insane amount of inventory over $1.5 million. There are so many houses available over 1.5 million in Georgetown, and most of them are just regular old subdivision houses. So, that is the pocket where you're also going to start to see prices coming down because no one is going to pay some of the prices that some of these people are asking over the 1.5 million range.

Looking at Acton this week, it took a jump. It went from 17 to 21 active listings. Still not crazy, crazy high. Once we get over 20, Acton's inventory is definitely is showing signs of picking up. Glen Williams this week is down slightly from eight to seven active listings. Again, we have like a variety of stuff available in the Glen, so if you've been thinking about going there, there's some decent houses available.  We rarely have stuff under $2 million in the Glen and I think there's three or four. So, if you've been thinking about moving to the Glen, take a look. Limehouse is down from three to two active listings because of a termination and the rural market went from 33 down to 31 active listings and again impacted by those houses coming off the market.

So not as doom and gloom of an update this week as it was last week, but when you actually take out the eight properties that terminated off the market, we are seeing very low sales and we are seeing more inventory than sales happening. So, a bunch of weeks of that and we are certainly going to be in a flipped market. To have 153 active listings in all of Halton Hills is definitely sitting higher. I think that number is going to continue to climb, which is not going to be great news for sellers.

So I will be back next Tuesday. Have a great week everyone.

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