This Week in Halton Hills Real Estate
One thing I’m seeing right now is that home prices are still trending down.
If you’ve been thinking about selling but waiting to see what happens with the market, there’s something worth thinking about.
We don’t know where the bottom is or when we’ll get there.
Unfortunately, the only way we really know we’ve hit the bottom is when things start to plateau or go back up.
It will take time to recover from where we were, and this year I’ve had a lot of clients decide they’re simply ready to get on with life.
That’s an important part of this conversation.
If you’re buying and selling in the same market, you may sell for less than you would have a few years ago, but chances are you’re also buying for less.
Sometimes waiting for the market to give you the perfect moment just means putting your plans on hold.
What’s Happening in Halton Hills This Week?
We’re heading into Labour Day weekend, which is traditionally a quieter time. People are enjoying the last bit of summer, getting ready for back to school and real estate isn’t necessarily top of mind.
Even with that, houses are still moving, which is great.
Last week we had 8 homes sell firm and another 12 sell conditionally. Inventory has also dropped again and we’re now at 272 homes for sale in Halton Hills.
Here’s what happened last week:
• 27 new listings
• 8 homes sold
• 12 sold conditionally
• 14 homes came off the market
• 6 price changes
• Average sold price: $1,438,250
• Homes sold at 96% of asking price
• Median days on market: 12
If You’re Buying
Prices coming down can create opportunity.
There are great homes coming up and buyers have more time and choice than we saw in some of the crazier markets.
If you’re also selling a home, remember that you're buying and selling in the same market. Looking only at what your current home might sell for doesn't give you the whole picture. What you can buy next matters too.
If You’re Selling
If you already know a move is in your future, I wouldn’t sit on the sidelines trying to guess where the market is going.
None of us knows exactly when prices will bottom out or when they’ll start moving the other way.
When the timing is right for you, then it’s time.
The better question is what makes sense for you, how much equity you have today and what that equity allows you to do next.
For now, enjoy the last bit of summer. We can talk about September next week : )
I'll be back next week.
If you have a question, send me an email.
Michelle Bell
Sell with Bell
Serving Georgetown, Acton, Glen Williams, Halton Hills, Oakville and the west GTA.
