Halton Hills Housing Update - Ep.158
Wednesday Mar 15th, 2023
Hi, everyone! Welcome to this week's Halton Hills housing update. So, the market is remaining super stable. It's honestly very anticlimactic right now.
So, looking at sales last week, Georgetown had twelve sales. That's a good week, definitely not a low week or a high week, but a good week for sure. We had 15 new listings, so there are definitely new listings hitting the market. That being said however, when sales are really strong, we don’t really feel the increase of inventory. We also had three properties terminate and come completely off the market. So, those are factors that keep inventory at bay. We're starting to see properties get over asking again and there were three that sold over asking out of the 12 sales we had this week. So that's 25% of the properties getting over asking. It’s just a busy time in the market right now, and I’m a bit surprised. I think buyers have adjusted to the market though and are participating because they want to buy a house.
In Acton, there was one sale and two new listings. So, nothing crazy there, but it's continuing to move a bit. It was dead at one point, so it is good that we are seeing sales and new listings every week. Glen Williams had no sales and no new listings. Limehouse had no sales but one new listing, and the rural market had one sale and one new listing. Overall, you see a balance in those numbers. No sale bracket or no new listing bracket is really going crazy compared to the other one, so that's keeping our market very balanced.
Looking at active inventory, last week we were at 106 Active Listings in Halton Hills. This week we were up just slightly to 108. Georgetown remained the same this week at 60 active listings. I know we are seeing more new listings than sales, but we also have people coming off the market, which is why there hasn’t been much of an increase in the number of active listings. So, looking at our price points, under $800,000 is down from nine to eight active listings, and we flipped this week as most of them are condo or condo townhomes. $800,000 to a million is also down from 16 to 15 active listings. That price point is the one that continues to move. It's very strong and very busy. One to 1.5 million is up slightly from 18 to 19 active listings, but still sitting very low. 1.5 million plus also went up slightly from 17 to 18 active listings and again, that pocket is continuing to struggle to find buyers.
Acton this week we are up slightly from 12 to 13 active listings. Glen Williams remains the same at nine, Limehouse is up to two, and the rural market remained the same at 24, so not a ton happening! I mean, there are more sales than I thought there would be, and less listings too. So, we are in an interesting pocket that I don’t think any of us expected based on how we finished last year.
April and May are typically the months when most sellers start to think about listing their homes, and that’s normally when we start to see inventory really pick up. The buying pool from the start of the year has definitely been saturated, but when more houses come on the market and there’s more to choose from, we start to see a shift from a balanced market to a buyer’s market. But, with where things are going, who knows? Overall, our market is very stable. If you are a seller, it's a good time to be thinking about selling your home. If you're a buyer, it's probably not going to be as easy as it was in the back half of last year. So, we're just watching this really closely and seeing if there's going to be a week where it really starts to go one way or the other. This time last year we were strong and by the end of March, it was starting to show indicators that this was going to go south. So, we'll see what happens. I will be back next Tuesday. Have a great week!