Halton Hills Housing Update - Ep.276

Welcome to this week’s Halton Hills housing update. I missed last week so I’ll be re-capping what happened. We have definitely seen some shifts in the past two weeks. So, in Georgetown we had one week of nine sales and the next week had seven. Sixteen sales over a two week period is not a very high number, especially for April. We are not seeing very active buyers. Acton had one sale one week and then three the following, and the same thing happened in the rural market. Glen Williams had no sales over the past two weeks. One random thing to note is that we had three sales over two million dollars over the last two weeks. That is really going to help April’s average price, especially compared to March where the highest sale we had was 1.6 million. Another thing to note is that of the 24 sales over the past two weeks, only 11 of them were under $1,000,000, meaning that the majority was over a million dollars. We have been seeing the opposite the past few months, so that shift will also help our  average price. It’s good news for the sellers in our higher price points.

Looking at active inventory, we had a significant increase over the past few weeks, going from 182 to 209 active listings in Halton Hills. So, we jumped right over the 200 mark and in my last update I said that if we don’t close the gap between sales and new listings, we are going to have inventory skyrocket. Here we are. The bulk of the inventory is in Georgetown, which went from 107 listings to 128. We are far from the 170+ that we had last year, but prior to last year the highest we had was 140 and we are getting close to that again. So, looking at our price points, we had a huge jump under $800,000 from 16 to 24 active listings. That is a lot for this price point. Eight hundred thousand to a million went from 25 to 28. One to 1.5 million is always impacted negatively when inventory goes up, and it went from 52 to 62 active listings. This is so saturated, especially compared to the 25ish we had in January and February. Finally, 1.5 million plus remained the same at 14. Acton went from 24 to 26 active listings, Glen Williams is up from eight to nine and the rural market is up from 43 to 46. Inventory is rising everywhere. 

I’m honestly really surprised at how quiet buyers have been. There are a ton of great houses for sales right now and it’s just crickets in some pockets! It’s definitely interesting and I will have April’s numbers next week. I suspect our average price will be much higher than the $880,000 we saw last month, and may even hit a million with the few big sales we’ve had. Going into May, we are really hoping to see things pick up because this has been a pretty soft April in terms of sales. So, I’ll be back next week!