Halton Hills Housing Update - Ep.262

Welcome back to my Halton Hills Housing Updates. There have been a few updates that haven’t been shared on the blog, so feel free to visit my YouTube channel or social media platforms to take a look at those. Let’s get into this week’s update! 

I have October’s numbers this week, along with some great updates about our Halton Hills market. So, I was very surprised to see that we are basically even with last year in terms of units sold and price. In October of 2024, our average price was $1,041,000 and we sold 62 units. This year, our average price was down just slightly to $1,033,000, so only a $8,000 difference, and we are down to 61 units sold. I am so surprised by this! I know we had a stronger back half of October but I really thought we’d be down from last year. 

Looking at what happened this week in Halton Hills, for the second week in a row, Georgetown hit double digit sales with 12 this week, which is great! Another good piece of news is that for the second week in a row, our new listings did not outpace our sales. We had eight new listings this week, which means inventory is down. We don’t normally see this slow down this early into November, but it’s great for our market because we have been sitting very high lately. In Acton this week, we had two sales and three new listings. Glen Williams had no sales and no new listings, and the rural market had one sale and one new listing. Something to note is that of the 15 sales, 10 of them were under a million dollars, so we are finally seeing buyers back in that price point. We’ve been seeing a lot of higher priced properties sell lately, so this is nice to see. We also had 16 properties come off of the market this week. This is great news considering just how high our inventory has been lately. We also had three properties re-list at the same price to freshen up their listings, and we had 15 properties that decreased their price. I think that a lot of the listings are over priced right now, but sellers are quickly figuring out that they need to drop their prices because buyers are not looking at properties that are not priced well. 

So, looking at active inventory, last week we had 280 active listings. This week we are down to 257, so we had a drop of 23 units in our overall inventory, which is a huge week between properties coming off the market and sales picking up. This is exactly what we needed to see, but inventory is still sitting extremely high. We need more weeks (months even) of this trend to continue to really get into a good spot for the new year. Georgetown is down from 163 to 152 active listings this week and the only price point that was up was under $800,000. So, under $800,000 is up from 28 to 29 listings. There are a lot of properties available in this price point and it seems like buyers are finally active here. Eight hundred thousand to a million dropped significantly from 50 to 42 active listings. One to 1.5 million went from 63 to 61 and 1.5 million plus is down from 22 to 20 active listings. So we did see most of our price points soften this week, especially $800,000 to a million. This is a great update for Georgetown. In Acton this week, we are down slightly from 36 to 35 active listings. Glen Williams remained the same at 12 and we saw most of our terminations in the rural market this week, so they are down from 69 to 59 active listings. 

I feel really great about this week’s update. Not only did we not see a dramatic drop year over year, but we saw a good trend starting this week with properties terminating and fewer new listings hitting the market. I’m looking ahead to the new year already and if this trend continues, we should be in a good place come January. We started 2025 in a relatively good spot, but with all of the stuff happening in the US our market really shifted and got a little bit messed up. I’m hoping that we can see inventory soften over the next eight weeks and we can go into the new year with 70-80 listings in Georgetown, and lower inventory in our other markets as well. We basically need to see Georgetown’s inventory cut in half. I am hopeful that this will happen since we are starting to see typical December trends starting early this year. It’s been a tough year for our market and it would be really nice to just have a normal year! So, let’s hope these trends continue. Have a great week!