Halton Hills Housing Update - Ep.230

Welcome to this week's Halton Hills housing update! We’re still in a market where we aren’t seeing any dramatic changes and it’s staying somewhat stable, but there are a few signs showing that we’re starting to see some relief for Sellers. So, looking at last week’s numbers, Georgetown had 12 sales, which is a standard week. This means that buyers are still active and compared to last year when we were seeing 3-5 sales in October, this is great news given how high our inventory is. We also had 12 new listings this week, which still seems high but given where we are coming from, I’ll take it! In Acton this week, there were four sales which is great for Acton! There was also only one new listing there so they are also heading in the right direction. Glen Williams had no sales and one new listing, Limehouse had no sales and no new listings, and the rural market had one sale and one new listing. The rural market seems to be slowing down, which is exactly what they need. When looking at properties that terminated, there were nine last week, which is not super dramatic but we may be starting to see the exodus I’ve been mentioning. We also had 11 properties reduce their price, one re-list higher, and three that came back on at the same price, to freshen up the listing on Realtor.ca. So we are seeing quite a few properties doing adjustments and hopefully we continue to see more. We really need to see people who don’t have to sell coming off of the market because it’s not a great time. 

Looking at active inventory, all of Halton Hills is down from 226 to 217. This is still extremely high but we are moving in the right direction and getting closer to the low 200s. Ideally, we want to be under 150 to feel any kind of relief in our market, so we have a ways to go. Again though, I am confident that our Christmas season exodus will help us get there. In Georgetown this week, we are down from 131 to 126 active listings, which is still extremely high. Looking at our price points, under $800,000 is down from 18 to 16 active listings. Eight hundred thousand to a million dropped significantly from 26 to 20 properties, which is great news for Sellers in this pocket. One to 1.5 million is down slightly from 62 to 61, but this is still extremely high. As a seller in this pocket you are either going to need to be very patient or bring your pricing down. Finally, 1.5 million plus saw a huge jump this week from 28 to 33 active listings. This is not the news that Sellers in this price point want but we did have quite a few new listings here this week. We also didn’t see any sales over 1.4 million this week in Halton Hills, so this is not great news. Acton is down significantly this week from 26 to 22 active listings. This is still very high for Acton, and we want to be around 10, if not lower, so we have a long ways to go here too. Glen Williams is also sitting extremely high at 10 active listings from nine and most of it is very expensive, so it’s not a huge surprise we aren’t seeing many sales here. Limehouse is down from six to five due to a termination and the rural market stayed the same this week at 54 active listings, which again, is super high. This market is one that we will likely see a lot of terminations in once we get closer to Christmas.

So overall this week, I would say it was a decent update given where the market is. It’s not amazing but buyers are clearly active and having normal sales levels is the silver lining in all of this. This week we had 17 sales but last October we had weeks of 6-8 sales and the market was completely dead. So, it’s great that our market is moving and I suspect that we will see more interest rate drops which could really fuel the market. If you don’t need to sell, you should really take your home off of the market because now is not a good time. Maybe wait until March or April when the market picks back up. So, I’ll be back next Tuesday, have a great week!