Halton Hills Housing Update - Ep.272

Welcome to this week's Halton Hills housing update. March has had a pretty good start, with sales and a stable number of new listings. So looking at Georgetown, this week we had 12 sales, which is great! We also only had 13 new listings so the market feels balanced. Acton had four sales and one new listing. Four sales is pretty much the same number they’ve had since the beginning of the year, so that is great news for Acton. Glen Williams has been stable, with no sales or new listings and the rural market had one sale and two new listings. We also had eight properties come off of the market this week, and nine relisted at a lower price. Pricing is definitely softer, but weeks like this give me hope that we could have a strong spring market. Also something to note is that of our 17 sales, only four of them were over a million dollars. Our higher priced homes are just not moving as quickly. At the same time, of the 16 new listings this week, 11 of them were under a million, so I will be watching this! In order for the higher end of our market to get movement, we need to see homes selling in the lower end, so this could be good news. One other interesting thing is that Acton had four sales last week, but they were all very low priced homes. The average price of last week's sales was $605,000. Prices have come down significantly there and it’s not a strong market. Georgetown’s average was $916,000, so it just shows that our lower price point is pulling our average down right now. It’ll be interesting to see how this continues throughout March. 

Looking at active listings, our inventory is actually down this week from 161 to 156. This is a relatively soft number in my opinion. We were close to 300 last year, so we’re about half of that right now. Georgetown is down from 97 to 95 active listings. We were at 10 at one point last year so this feels very refreshing. There is also a nice variety of homes on the market right now and most of it is priced well.  Eleven of the 95 properties are in the sold conditional status, so those could be reported sales next week. So, looking at our price points, under $800,000 is up from 17 to 21 active listings. Eight hundred thousand to a million is down slightly from 32 to 28 active listings. One to 1.5 million is down slightly from 36 to 34 and 1.5 million plus remained the same at 12. So our upper price points aren’t seeing many sales, but they also aren’t seeing many listings which is good news. Acton is down this week from 17 to 14 listings, which is a bit low for Acton. Single digits would be super low, so it’s not too bad. There is a lot of cheap stuff available here right now, so if you’re in the market, take a look there! Glen Williams remained the same at 5 active listings this week. Inventory is super low here. The rural market remained the same at 42 which is still pretty high. Most of these properties are in our upper price points, but there are a few under a million, which rarely happens. 

Overall, I feel good about this update. We have a lot of properties transacting and buyer activity is not at a standstill. It is pretty listing dependent though. Some properties are coming up and getting an offer the same day, while others are taking longer because of their niche buying pool. It’s just nice to see sales happening, especially since in the first week of March we have basically seen half of the sales we had in the entire month of February. I feel like this was a positive update for both sellers and buyers and it’s nice to see the market moving in a healthy way. So, I’ll be back next week, have a great day!