Welcome to this week's Halton Hills housing update! We’ve got good news and bad news this week. So, looking at the numbers, Georgetown only had eight sales which is the bad news. That’s not very many sales. We really need to see this number increase. We also had 15 new listings, which is a lot, but it’s still half of the 30 we had last week so I’ll take it. Inventory didn’t climb the same way it did last week either so that’s another win. I don’t know what needs to be done but we really need to see sales increase. So, in Acton this week there were four sales which is great for Acton but there were also five new listings. Glen Williams had one sale and no new listings (thankfully), and the rural market had one sale and four new listings. It’s just getting hammered with inventory and nothing is moving. We have two properties that are sold conditionally in the rural market and that’s it. Listings there are really struggling. Another thing to note is that the majority of our sales are still under $1,000,000. Everything over a million is definitely struggling to move. Ten of the 15 properties that sold this week, which is 66%, were under a million and that’s been the case for a while now. So, if you’re a seller over a million dollars, make sure you are pricing accordingly because it’s very saturated. We also had 13 properties that relisted at a lower price this week and eight that terminated. This helped keep our inventory from skyrocketing again this week.
Looking at our active inventory, all of Halton Hills is up from 255 to 257, which is a much more reasonable increase than last week was. It’ll be interesting to see what trends continue. Like are we going to see sales slow down? Will inventory continue to spike? Will more properties come off of the market? So, Georgetown is up from 146 to 148 listings. That’s obviously not a huge increase but it’s getting up there. Looking at our price points, under $800,000 is down from 25 to 24 active listings. Eight hundred thousand to a million is up from 35 to 42. This pocket tends to move though so hopefully we see sales happen. One to 1.5 million actually dropped from 64 to 61 and 1.5 million plus is down from 22 to 21. A lot of the terminations we had this week were in our price points and we still aren’t seeing a ton of sales there. Acton stayed at 32 listings this week but that is really high for Acton. Glen Williams dropped from 10 to 8 listings and the rural market climbed from 67 to 69. We are officially tied for highest inventory in the rural market that I’ve ever seen and I do think this number will continue to grow.
Overall, I think this week could have been a lot worse. If we had another week like last week with 30 new listings we would have been in big trouble. We’re getting close to our inventory all time high and without sales picking up we are going to be in a situation soon. Pricing will have to come down if that’s what happens. So, we’ll see what happens over the next few weeks! Have a great day!
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