Halton Hills Housing Update - Ep.278

Welcome to this week’s Halton Hills housing update! I missed last week so we’ll be covering two weeks today. So, we didn’t have anything crazy happen over the past two weeks. We had 13 sales in Georgetown one week and 10 the next week. That’s not necessarily low, but it also isn’t very high considering we are in the “spring market” right now. The market feels steady though and that’s good! Acton had three sales and then no sales the following week, which isn’t good news considering how many listings there are in Acton right now. Glen Williams had one sale and then another sale the following week. The rural market had one sale and then two sales. Overall, I would say sales are quite slow, especially in our outer markets. Georgetown is more of a middle ground where it’s not too busy or too quiet. One of the notable things this week was that out of the 31 properties that sold, 20 of them (so basically 2/3 of them) were under a million dollars. The far majority of sales are still under the million dollar mark and that’s is going to pull down our average price. It’s also tough because we are seeing inventory really start to pile on in the higher price points. 

So, looking at inventory, we’ve seen a bit of a climb but it’s still under control. We were at 205 listings two weeks ago and now we are up to 219. That’s still a lot higher than where we were at the start of the year, but it’s also a long way away from last August/September. It’s good news that inventory isn’t skyrocketing but we do need to see buyer activity pick up. Georgetown is up from 122 to 131 active listings. In the peak of the market last year we were at 170. We still have a ways to go before we hit that but we are definitely starting to feel a pinch, especially over a million dollars. So, looking at our price points, under $800,000 is down from 25 to 22. That makes sense since the majority of our sales are happening here. Eight hundred thousand to a million is up from 24 to 33, which isn’t crazy high but that isn’t great for our overall inventory. The real problem is one to 1.5 million which is up from 59 to 60. That isn’t a huge jump but that is sitting very high and we aren’t seeing a ton of sales in this price range. If you have a listing in this price point, expect a low number of showings and be prepared for any offer you get. Finally, 1.5 million plus is up from 14 to 16. This is still not nearly as high as we were last year, but not much is selling here. We maybe have one or two sales a month. Overall, Georgetown is trending upward, except for our lower price point where we are seeing the majority of sales. I think those buyers are getting some really nice properties. Ideally, we will see the $800,000 ish sellers start to buy in the higher price point. Acton is up this week from 28 to 29 listings. This feels saturated and we aren’t seeing many sales here. Glen Williams remained the same at nine and there is actually a nice range of pricing here.  A lot of the time we’ll only have homes over two million dollars, but that’s not the case right now! So, if you’ve been looking to move to the Glen, check it out. Finally, the rural market is up from 46 to 50 active listings. Rural is always very saturated when Georgetown’s inventory starts to rise, so this isn’t a huge surprise. There’s also not a lot transacting here. The majority of these properties are also over a million dollars, so it makes sense why things are slower. 

Overall, this wasn’t a bad update. If this were last year and we were covering a two week span, the numbers would be crazy in terms of new listings, so at least that’s not the case right now. Inventory is definitely starting to climb and our sales aren’t keeping up so we may find ourselves in a situation soon, but for now it’s stable enough. I’m really interested to see how this year pans out. Interest rates are really good right now and it’s a nice market in terms of inventory and decent pricing. I really hope we can salvage a good year this year! Buyers just seem really hesitant to pull the trigger right now. Open houses are really busy but getting people to commit and put an offer in- that’s becoming a challenge. Hopefully things pick up over the back half of May and we see some big ticket sales. So, I’ll be back next week! Have a great day!