Halton Hills Housing Update - Ep.242

Welcome to this week’s Halton Hills housing update! I have January numbers to recap today, as well as how our market has progressed this week. So, in January of 2024, we sold 49 units and had an average price of $961,000. This January, we also sold 49 units but our average price is up almost 12% to $1,075,000. Last year, we had a couple of months where our average price was under a million dollars (January, August, September and December) so seeing our year start off with a strong average price is great! We’re used to seeing our average price around 1.1 million, but when things get busy we do hit 1.2 million. I think prices will continue to climb just given how busy buyers have been and the fact that interest rates are continuing to decrease. We’re also up significantly (by 19%) from December which is great news. We had a lot of homes over a million dollars sell this month. 

Looking at what happened in Halton Hills last week, Georgetown had nine sales, which is good for this early in the year. There also isn’t a ton of inventory available so that’s a good number. We did have 11 new listings but inventory isn’t skyrocketing. Acton had one sale and two new listings. Glen Williams had no sales and no new listings and the rural market had no sales and two new listings. Sixty percent of our sales last week were over a million dollars, so we are continuing to see higher ticket properties sell. We also had the majority of new listings come on over one million dollars, so we’ll be keeping an eye out here to see if it gets super saturated again. We’re also seeing fewer homes reducing their prices and terminating their listings. We had three properties terminate this week and two re-list at a lower price. This indicates that the market is strong since there aren’t many changes being made.

Looking at active inventory, we are up slightly to 127 active listings. This is still much lower than our peak of 230 last year. Georgetown went from 74 to 72 active listings this week, which is low but if we were in the 50s or 60s, it would be a lot busier. Looking at our price points, under $800,000 is the same at nine this week. Eight hundred thousand to a million is down slightly from 18 to 17 listings. One to 1.5 million is also down from 26 to 24 active listings and we have seen quite a few sales in this price point lately. Finally, 1.5 million plus is up from 19 to 24 active listings which is a bit of a jump but as we see more sales in the one to 1.5 million price point, we should see sales here too. Looking at our other markets, Acton remained at seven this week, Glen Williams remained the same at four and the rural market is up from 40 to 41. Rural properties are still moving pretty slowly but once Georgetown sales pick up, we should see these pick up as well. 

So, we had a really strong January compared to the back half of 2024. We are continuing to see sales and had another interest rate drop this week. I know there is a bit of uncertainty with everything going on down south but I don’t think it’s really impacted the market and I think the Spring will be great for Sellers. Buyers, I do think prices are going to go up, so start looking now! I’ll be back next week to see how the first week of February goes, have a great week!