Halton Hills Housing Update - Ep.153
Wednesday Feb 01st, 2023
Hi, everyone! Welcome to this week's Halton Hills housing update.
So, we have some interesting numbers today. Looking in Georgetown, we had 10 sales, which is right on trend with what we typically see in Georgetown. So that’s a good number and much better than the three we saw last week. What was interesting was that six of the ten were over $1,000,000. So, we had quite a few sales in our higher price point that has been kind of struggling, and two of the six were also over $1,500,000. So that was really interesting to see last week! We only had five new listings in Georgetown so inventory is down and not where I thought it would be at the end of January.
Acton had four sales which is great news for Acton. All of hem were under $900,000. So Acton has a lot of really good products in the lower price point right now so the market seems to be starting to move. There was only one new listing in Acton so inventory will be down this week. Glen Williams and Limehouse both had no sales and no new listings. The rural market saw one sale and one new listing.
Talking about active inventory now, this was a very interesting week. Last week we had 116 active listings available in Halton Hills and now we have 107. I really can’t believe we are going backwards right now. Last week we did have four properties that came completely off the market, so that also had an impact on the decrease in inventory. To see it drop that much though is a big surprise! Georgetown went from 71 down to 66 Active Listings, so things are definitely softening. Buyers are out there and things are moving and we are just not seeing the influx of listings that I thought we were going to see.
Looking at our active price points, under $800,000 went from nine down to seven active listings. $800,000 to a million went from 17 to 16. One to 1.5 million stayed the same at 24 and this is where we saw most of the new listings come in last week. And finally, 1.5 million plus went down from 21 to 19 active listings. Acton is down from 16 to 13 active listings. At the start of January we had 21 in Acton and throughout the fall we were sitting between 21 and 24 pretty consistently. Things were just not moving in Acton. I will say that a lot of the lower price point products have adjusted their pricing to be more attractive than what you can get in Georgetown, so I think that is a big part of it. Glen Williams remained the same at six, Limehouse remain the same at one, and the rural market is down slightly due to a termination from 22 down to 21 active listings.
I definitely thought we would see a huge influx of listings in January from those products that came off the market in the fall, and we did see a bunch of them re-enter the market. Some of them are still there, some of them have actually sold, but it’s really interesting to me that we’re not seeing more products entering the market and we're seeing like a pretty good number of sales. So overall, our January numbers are going to be, I think, better than I thought they were going to be. I'm really interested to see where the average price for January comes in. I don’t think it will be super high because we didn’t see a ton of higher ticket stuff sell, but it’s just been a surprising week. So, who knows what’s going to happen in February but at some point, and I will put money on this, I bet that we will see inventory climb at a more rapid rate. Even over the last few weeks I’ve had a bunch of inquiries from people who want to sell in the spring. Again, if you're thinking of selling this spring, try and move that up. I think February and March are really going to continue to be somewhat strong, but by the time we leave March, we should be sitting at higher inventory levels. Anyways, I’ll be back next Tuesday with January numbers and we’ll see where we’ve come year over year. I will say that it’s good news for sellers that we aren’t seeing a massive amount of inventory hitting the market. So, I’ll be back next Tuesday. Have a great week!