Hi everyone, welcome to this week’s Halton Hills Housing Update. This week was not overly dramatic but there were a few changes. So, in Georgetown there were nine sales, which is a slight dip from a good week which is typically around 12 sales. It’s not super slow but nine is trending downward and that’s not what we want to be seeing. We also had 14 new listings so we are continuing to see double digit new listings every week, which is crazy for July. We really need to start to see sales picking up because there isn’t a sign of a slow down for new inventory. Acton this week had one sale and five new listings, so inventory is just climbing there too. Glen Williams and Limehouse had no sales and no new listings this week, and the rural market had no sales and one new listing. So, there were only 10 sales in Halton HIlls this week which is lower than what we want to be seeing. An interesting thing though is that we are seeing more and more sales over the million dollar mark, and everything under is much slower to sell. I can’t figure out why this is happening but last week only one of the 10 sales was under a million dollars. That means we had nine sales over a million dollars, which is a lot! It seemed like over a million was dead for so long but now it feels like things have switched and I’m kind of at a loss for why this is happening. We also saw 20 new listings last week and only five of them were under a million dollars so it’ll be interesting to see how this plays out. When looking at properties that made adjustments last week, we had eight that dropped their price, eight of them that left the market, one that increased it’s price, and two that re-listed at the same price to freshen up their listing. So we are seeing some terminations but I really thought we’d see more.
Looking at active inventory, we stayed the same at 220 active listings this week which is a total surprise but we are remaining stable at a very high number. Georgetown went down from 132 to 128 active listings because of terminations and sales. So, looking at our price points, under $800,000 is up from nine to 11 listings. This is the only price point that is up this week. Eight hundred thousand to a million is down slightly from 31 to 30 active listings. One to 1.5 million is down from 57 to 53 active listings which is still insanely high. Finally, 1.5 million plus is down from 35 to 34 active listings. In Acton this week we are up from 32 to 36 active listings. Acton is just getting hammered with inventory and it doesn’t seem to slow down. If we get to 40 listings in Acton, I will be really surprised. Sales have really slowed down there but I think it’s because there are a lot of lower priced listings and those aren’t even selling in Georgetown right now. Glen Williams remained the same at six active listings. Limehouse remained the same at eight, and the rural market remained the same at 42 this week. Something else to note is that between Glen Williams, Limehouse and the rural market, there are only two properties available for less than 1.2 million dollars. So, they are all in a really high price point, which makes sense as to why we don’t see many sales there. You have to have quite a high budget to be transacting in these markets.
So, that’s this week’s update! I will have July numbers next week and I’m really interested to see where they land. It feels like our pricing should be down, but because of all the sales we’ve had over a million dollars, I’m just not sure that will be the case. So, I’ll be back on Tuesday, have a great week!
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Use this link to watch the full market update video: https://youtu.be/AEnQ83DtnNg?si=zJwq3tYSBJ6K4xoJ
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