Halton Hills Housing Update - Ep.251

Welcome to this week’s Halton Hills housing update! I have April’s numbers to cover today so let’s get into that. So in April of 2024, our average price was $1,195,000 and we sold 82 units. This April, our pricing is down over 9% to $1,084,649 and we sold 53 units. So, the good news is that our average price is up over 14% since March and we are just above our January and February average prices which were $1,075,000 and $1,084,000. We have definitely seen a drop in the number of houses selling but we are up from the 40ish we had in March which is another positive. I know Sellers probably want to see a higher average price but we did have seven properties sell over 1.5 million and two of the seven sold over two million which is promising. Now that the election is over, I’m hoping the market starts to pick up some momentum but I do have some bad news in terms of where our inventory numbers are at. 

So I missed last week so I’m going to cover the past two weeks today. In Georgetown last week we had six units sell, and the week prior we had 12 which is really strong! The market is starting to move a bit more and although six sales isn’t great, we do have a ton of properties that are sold conditional. The bad news is that we had 25 new listings this week which is insanely high. I’ve never seen anything like this. In Acton this week, we had three sales and six sales the week before. That’s a really strong week for Acton and we only had three new listings this week. This is good news for Acton because their market was really dead for a solid six weeks. Glen Williams had no sales and one new listing and the rural market had no sales this week but two the week prior, and four new listings this week. I’m not going to cover price changes and terminations this week because it gets complicated when I miss a week but there are a lot of properties that are dropping their price. 

Looking at active inventory, I knew we were going to get over 250 in Halton Hills and we are officially at 254. I had never seen it higher than 232 prior to this week and in my last update, we were at 235. The bad news is that there is no sign of inventory slowing down. So, in Georgetown, we are up from 134 to 158 active listings. To put that into perspective, we had 120 listings in ALL of Halton Hills at the start of this year. Looking at our price points, under $800,000 is up from 15 to 16 listings and $800,000 to a million is up from 29 to 33. There isn’t a huge saturation in those price points but there is in the one to 1.5 million! We are up from 66 to 76 listings there which is absolutely nuts. Finally, 1.5 million plus is up from 29 to 33, which is not our peak but it is very hard to sell a house in that price point right now. If you have a lower price point house you’d like to sell to buy something above a million, now is a great time to do so! Most properties under a million are still selling and there’s a ton of choice to move up to. 

Acton is down from 33 to 28 active listings and this is because of the sales we’ve been seeing. Glen Williams is up from 13 to 16 and that is an insanely high number for the Glen. We typically sell between 25 and 30 houses per year in Glen Williams. Most of them are higher price points but they just aren’t moving. The rural market is up from 50 to 52 active listings which is also a ton. The theme today is just a ton of listings everywhere. 

I’m just going to give you some stats here - in our outer markets (Glen Williams, Acton and the rural market) we have 96 properties available. Of the 96, 21 are under a million. The lower price point tends to fuel the market because it’s these sellers who move up in price, but 40% of our overall inventory in Halton Hills falls between 1 and 1.5 million dollars which is insane! I think we have a long road to go here and I also think prices are on their way down. Buyers are feeling more active and you can see it with the number of units sold. Let’s just hope this continues! So, I’ll be back next week, have a great day!