Halton Hills Housing Update - Ep.264

Welcome to this week’s update! We had a very exciting week in Halton Hills, so let’s get into it! Georgetown had 10 sales, which is pretty normal. Buyers are out right now. The amazing news is that there were only three new listings. That is SO low for Georgetown despite things normally slowing down in November and December. With the year we’ve had, I wasn’t sure if we would see this trend start so early, but it’s happening and I am excited. In Acton this week we had six sales and no new listings. Glen Williams had no sales and no new listings and the rural market had one sale and two new listings. The other great news is that we had 14 properties exit the market. So, with these terminations and high sales, our inventory is down and I’m hoping we can go into the new year strong! We also had seven properties re-list at a lower price, two that re-listed at the same price, and weirdly enough, two that raised their price. 

Looking at active inventory, we had a significant drop from 254 to 231 this week in Halton Hills. If we look back, in December of 2023 we started to see properties fly off of the market and our inventory was cut in half in a matter of three to four weeks. If these numbers continue, I think we will see that happen again this year. That would put us in a really great position come January. Historically, January and February typically has low inventory that doesn’t meet buyer demand, which would be a great start to the new year. So, seeing inventory at 231 is very exciting because that is a drop of over 20 properties and we are heading in the right direction.

Now, looking in Georgetown, inventory is down from 145 to 132 listings. Looking at our price points, under $800,000 is down from 30 to 20 active listings. Eight hundred thousand to a million is down from 38 to 37. One to 1.5 million dropped from 60 to 53 listings and 1.5 million plus went from 17 to 16. So, we are seeing softening in all of our price points. Acton had a great week this week and went from 35 to 26 active listings. This was a combination of sales and terminations. Glen Williams remained the same at 12 and the rural market went down slightly from 62 to 61 active listings. 

I am very excited about these numbers. We have been struggling with high inventory all year and 230 is still very high - it was the record before this year, but we are moving in the right direction. A warning for all buyers, there are some seriously good opportunities right now and with interest rates decreasing and expected to decrease at least two more times, right now is an amazing time for you to get a really good deal. Our sales are showing that buyers are active but this could be the bottom of our market, especially if inventory continues to drop like this.