Halton Hills Housing Update - Ep.229

Welcome to this week's Halton Hills housing update. I feel like a broken record but every week is starting to feel the same. Looking at this week’s numbers, in Georgetown there were 10 sales, which is still a good number and much better than what we had last October. It’s a bit lower than our average which is 12 but it’s still double digits! The bad news is that new listings outpaced sales, so we had 12 new listings this week. The good news is that this is less than what we’ve been seeing so let’s hope we continue to slow down. In Acton this week there were four sales and three new listings. Glen Williams had no new listings and no sales. Limehouse had one sale and no new listings and the rural market had one sale and three new listings. The rural market is just packed with inventory right now. So, looking at properties that terminated and did price changes, we had seven properties come off of the market this week, which we love to see! There were also three properties that re-listed at a lower price and one that re-listed at the same price. So we didn’t see as many properties make price adjustments this week but at least the houses that came off of the market helped keep inventory from rising. Another thing to note is that of the 16 properties that sold this week, only five of them were over a million dollars, so the far majority is still under a million. Hopefully things can switch and we can start to see some higher ticket properties selling soon. 

Looking at active inventory, in all of Halton Hills this week we are down from 230 active listings to 226, which is still insanely high, but at least we are going in the right direction. In Georgetown this week, we went from 134 to 131 active listings which was partially due to the terminations. Looking at our price points, under $800,000 is up from 15 to 18 active listings. There are actually some detached homes in this price point as well, so now is a good time to be a buyer! Eight hundred thousand dollars to a million is down from 30 to 26 active listings, which is low compared to what we’ve been seeing and I think this just shows what the demand is like right now. One to 1.5 million is down from 64 to 62 active listings and there are so many properties available that you may be able to negotiate on some of the bigger ticket homes. Finally, 1.5 million plus remained the same at 28, but not much is moving here. Looking at our other market, Acton is down from 27 to 26 active listings which is high. Most of these properties are under a million dollars so I think we will continue to see sales here. Glen Williams remained the same this week at nine active listings, Limehouse is down from seven to six, and the rural market is up this week from 53 to 54 active listings. Of the 54, only three of them are listed for less than a million dollars, which shows you why we aren’t seeing many sales in this market. 

So we're going to continue to watch what happens here. We’re going to hope that sales continue, hope that new listings slow down, hope that people exit the market, and hopefully all of that will put us into a good place as we head into the new year. So, I will be back next Tuesday, have a great week!