Halton Hills Housing Update - Ep.231

Hi everyone! Welcome to this week's Halton Hills housing update. I actually think we have a pretty positive update this week, especially for Sellers. Looking at Georgetown, there were 10 sales which is a pretty good number but as we get closer to Christmas I feel like it will die off a little bit. Anytime we have double digit sales, it’s a win. In terms of new listings, there were 11 this week, which is also lower than what we have been seeing. In Acton this week, there was one sale and six new listings, so not great news for Acton. There were also no sales or new listings in Glen Williams or Limehouse and the rural market had three sales which is a huge week, and only two new listings. The other good news is that there are a lot of properties starting to exit the market. So, this week we had 12 properties reduce their price, 13 properties that exited the market, and one property that raised their price. I am excited to finally see double digits of homes exiting and it should really put some movement back into our market. 

In Halton Hills, we are down significantly this week from 217 to 210 active listings. We are getting closer to the 200 mark but we realistically want to be under 100-150. We’ve been sitting at over 200 for a long time now and it’s really negatively impacted our market. In Georgetown this week we are down from 126 to 116 active listings. This is a massive drop from the 130s we’ve been seeing for a while now. The majority of new listings last week were under a million dollars, so looking at our price points, under $800,000 is up from 16 to 17 active listings. Eight hundred thousand to a million remained the same at 20. One to 1.5 million is down significantly from 61 to 55, which is still really high but this much of a drop in this price point is great to see. Finally, 1.5 million plus is down from 33 to 28 active listings. We saw a bunch of properties in our higher price points terminate this week. It hasn’t been a great time for Sellers in the higher price points so I’m not surprised to see that they are the first to be terminating. Hopefully this is the start of our 2024 mass exodus because we could really use it! In Acton this week we are up from 22 to 26 active listings. Glen Williams remained the same at 10. Limehouse remained the same at five and the rural market is down slightly to 53.

I think we had a pretty solid week this week and seem to be heading in the right direction. Last week we had 11 properties terminate and this week double digits again so we need to continue to see this. By the middle of November I think we will see a lot more coming off and it’s really the only way we are going to feel a shift in our market. Buyers are active but not super active so a drop in our inventory should re-fuel our market. We also had the interest rate announcement last week and I’m hoping that helps too. So, I’ll be back next week with October’s numbers, have a great week!