Halton Hills Housing Update - Ep.234

Welcome to this week's Halton Hills housing update! The good news is that we had a really strong sales week and the bad news is that the system is still merging, making accurate updates really tricky. So, looking at what happened in Georgetown last week, there were 15 sales, which is a HUGE week! I don’t remember the last time we had this many sales in a week and I think people are starting to understand that pricing will likely be going up next year because interest rates are dropping. As I mentioned last week, the new listing numbers are completely messed up because of the system merge, so I won’t be reporting on those this week. There are definitely new listings trickling in but I think it’s starting to slow down. In Acton this week there were two sales and in Glen Williams, Limehouse and the rural market there were no sales. The other promising number this week is the 14 properties that terminated, which is great news! High terminations and high sales will put us in a more promising position come 2025. We also had eight properties that re-listed at a lower price and one property that re-listed at the same price. 

So, looking at our inventory, all of Halton Hills is down significantly this week from 204 to 184 active listings! We haven’t been under 200 listings since the end of May so this is really good news for sellers. I do want to remind you that I remove all properties that have yet to be built from this number, since they aren’t considered part of our resale market. So the numbers on Realtor.ca would be higher than what I report here. I’m very excited to see inventory numbers moving in the direction we’ve needed them to for months now. So, looking at Georgetown, we are down this week from 114 to 103 active listings. This is due to a combination of high sales and terminations. Looking at our price points, under 800,000 is down to 13 active listings and this pocket has been busier lately. Eight hundred thousand to a million remained the same at 16 active listings this week. One to 1.5 million is at 50 active listings, which is still really high but hopefully we start to see it come down as we get closer to Christmas. Also, the mortgage rules are changing next month so buyers will be able to get an insured mortgage up to 1.5 million dollars. It’s currently at a million dollars, so I suspect this change will help this price point move a little bit better. This basically means that buyers won’t have to put 20% unless they are buying a house for more than 1.5 million dollars. For our final price point, 1.5 million plus is down slightly to 31 active listings, which is still extremely high.

Acton remained the same at 21 listings this week. Glen Williams is down slightly from 9 to 8, Limehouse remained the same at 4 and the rural market is down from 53 to 48 active listings. The rural market has been particularly messed up with the back end merge going on so I’m trying to make sure these numbers are accurate. 

Overall, this week was really positive with the high number of sales and terminations. I’m also hoping that with the mortgage rule change, we will see more buyers over 1.3 million. I also think we will continue to see inventory coming down over the next few weeks with properties exiting the market. Once we are under 150 active listings I think we’ll start to see everything pick up a little bit more. The last six weeks have been extremely rough for sellers but I think the market is finally starting to shift and 2025 should be a good year, especially for the first 4-5 months! So, I’ll be back next Tuesday, have a great week!