2017 April - November Georgetown Home Sales Report
Comparison to Pre Ontario Fair Housing Plan
Over the past few months we have heard many reports on how the Ontario Fair Housing Plan has changed the face of Georgetown's real estate market. We have heard as drastic as the market has stalled and prices have dropped dramatically to there has been little affect on the Georgetown and Halton Hills market other than less sales. I am going to dedicate myself to assist you in sorting out what effect the new legislature has had on the industry. I will not just give you blanket statements like we are hearing from media but focus on some Georgetown neighbourhoods, so you may be able to see the changes based on the sales that have happened in each area.
I will breakdown by month beginning with April 2017 (the month prior to the changes) and moving through the following months of the changes as well as comparing with the year prior. We will explore the effect in sales and prices and compare each category so you may see the real picture for this neighbourhood.
If you find this useful look for other Halton areas to follow. I will cover most of the Halton area to give you true numbers for those looking to buy and sell. I think it is critical for Agents to understand the changes and how it has effected the market. In fact, I am working towards knowing all this information by neighbourhood because we are already seeing changes that are different for each area.
As you read this if you have any questions feel free to contact me....
The change came in April and we have seen a dramatic change to the number of sales, They are down by half or more for most months. We have seen a largest sales number change this year after the new Ontario Fair Housing Plan in April where most months the number of house sales were 45 or less sales with the exception of April which is when the change came into effect. Listing prices seem to be quite consistent withut a great deal of change in fact we have seen listing prices rise overall. The effet of the change has been less than 5% overall. The strongest month being May at 103% of April and the weakest month September at 91%. Over the past 6 months we have seen prices continually rise to 96% of April in November. Another area to look at is the fact that there was a much higher sales % of Townhouses in July, September and November which tends to push the overall sales down. In April 82% of sales wer 2 storey detached houses and in November that number slipped to 75%.
The number of sales is way down by in some cases more that 50%. This is not a bad thing for sellers as it is now pushing prices up due to a lack of inventory.
Sales prices are up 20 -30% over 2016 proving this market is still a sellers market.
|Nov. 2017||Sept. 2017||July 2017||May 2017||April 2017|
|# of Sales||44||35||41||84||95|
|Ave. Listing Price||$766,182||$718,563||$746,588||$766,703||$726,427|
|Ave. Sales Price||$748,973
(96% of April)
(91% of April)
(95% of April)
(103% of April)
|% of Sold to Listing Price||99%||99%||99%||106%||108%|
|Days on Market||24||18||16||9||7|
|Nov. 2016||Sept. 2016||July 2016||May 2016||April 2016|
|# of Sales||40||41||59||87||74|
|Ave. Listing Price||$642,408||$709,663||$657,232||$622,137||$650,257|
|Ave. Sales Price||$649,832||$727,466||$665,306||$632,853||$643,501|
|% of Sold to Listing Price||102%||103%||102%||102%||99%|
|Days on Market||12||10||12||11||16|