Welcome to this week’s Halton Hills housing update! I hope you all had a wonderful holiday season! I took a few weeks off to try and enjoy the holidays before work really picks back up for 2025, so here is our first update of the year. So, today I am going to report on December’s numbers as well as a summary of what happened in December and then compare that to where the market is currently at. This will be beneficial since I basically skipped three weeks of market updates, sorry guys!
So, looking at what happened last December, our average price was $935,000 and we had 30 sales. That is a pretty low average price but December is always a quiet month. This December, we were up about 17% when it comes to sales, and had 35 properties sell. Our average price however was actually down over 2% to $913,000. So when we look at the 35 sales, the majority of them were in our lower price point, which is why our average price was so low. Out of the 35, 24 of them were under a million dollars. That is a huge number and we even had a few sell under $800,000. Our highest sale was also $1.6 million, and then our next highest was $1.35, so again, not a lot of huge ticket properties selling this month. I do think over the next few months we will see our average price come back up over the million mark. Inventory is sitting low over the million mark and the mortgage rules have changed, so I think it’s inevitable that our pricing will go up. So, that’s basically what happened in December in terms of our average price and number of sales.
Now looking at what happened this week, we only had three sales in Georgetown. This isn’t a huge surprise given that it’s the holidays and one of the slowest weeks of the year. We should start to see this number creep back up to 8-12 which we’re used to seeing in Georgetown. There were also five new listings this week, but three of them came off of the market a while ago and are back, so they’re not all new. Acton this week had no sales and no new listings. Glen Williams had no sales and one new listing and nothing happened in our rural market. So now one of the main topics we need to discuss is where we’re sitting in terms of our inventory. I’m going to compare these numbers to December since I missed three weeks. So in Halton Hills this week, we are at 130 active listings. A month ago we were at 170, so it’s not as dramatic of a drop as we saw last year when inventory was literally cut in half, but it is quite a lot better than the 230+ we saw in the summer of 2024. Georgetown is down from 99 to 79 active listings, which isn’t a super low number for Georgetown, but it’s definitely not super high either. I like to see between 50 and 60 when the market is really moving. We also have six new condos that are technically on the resale market because they’re built and you can live in them, but even without them we’re in the low 70s which is much better than it was a month ago at 99.
Looking at our price points, under $800,000 is down 10 active listings. We were at 14 at the start of December and I suspect that this will continue to be a busy pocket because inventory is so low. Eight hundred thousand to a million is our only price point that has actually increased, and it went from 16 to 19. This is still a lot less than the 30 we had for a while and this is a pocket that gets very busy. One to 1.5 million is down from 49 to 27 active listings, which is amazing news for sellers! I think we will start to see a lot of buyer activity in this pocket with the new mortgage rules. Finally, 1.5 million plus is down from 31 to 23 active listings. It’s still sitting pretty high and not seeing much movement but if the one to 1.5 million price point starts to get busy, those sellers will be looking to buy in the 1.5 million plus price point. It’ll be interesting to see how these mortgage changes impact our million plus properties. Overall, I think Georgetown’s inventory is doing well and is more stable and less saturated. We’ll have to watch out for how many new properties we get hitting the market and if buyer demand keeps up.
In Acton this week, we're only at 13 active listings. That's a pretty low number for Acton. It was at 17 at the start of December and we saw over 30 listings at various times this year. So, 13 is a great number for sellers in Acton. Glen Williams is down from eight to five listings, which is a normal number for the Glen, and the rural market went from 46 to 33 active listings. It was super saturated for the majority of 2024 so hopefully as things start to pick up in Georgetown, we can see the same happen in the rural market.
I think we had a pretty good update this week! We’re starting the year in a good position and interest rates have gone down. I think 2025 is going to be busy so I’m excited to see how the rest of January plays out! So, I’ll be back next week. Have a great week!
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