Cliff Barron from RE/MAX here with my update for Milton, Georgetown & Glen Williams for the week of February 7th to the 13th, 2021. 

Before I get there... HOW'S THE MARKET???  That's what everybody always asks me.  It's like nobody cares about upgrades in their housing, they just want to know how the market is. Well, in a nutshell... it's still busy! Things are still moving along, but I'm getting a feeling right now that it's going to shift just a little bit. 

I did an offer on a property tonight and there were only two offers on it, which is really unusual because as you know, a week or two ago there'd be 10 or 12 offers.  I have a theory about that. My theory is that people are being priced out of the market. More people are seeing houses sell way over asking and all these multiple offers on houses, so they're all putting their houses on the market early. There is no March Break (because usually we wait till after March Break) so that's in April.  So, my theory is there is more inventory coming out but there are fewer buyers because they're being priced out. They're kind of saying, "You know what, I'm just gonna hold back.  I'm going to wait and see what happens because I just can't afford things right now."  And because of that, it's going to level off -  but it's still a heavy, heavy seller's market. It hasn't shifted enough yet to be a level market, an even market, but you can feel it coming, which is kind of good. I hope it does level off because it's not healthy like this. It's just crazy. 

Now, let's get to the sales for Milton. Busy week again with 31 sales.  A two-story, average $1.269 million. 2 bungalows sold for $916k on average, 1 of them on Stewart Crescent. I didn't include this because it's a newer bungalow (relatively new). 1 home on Stewart Crescent sold for $1.65M, which is unbelievable. I have a client on Stewart that called me saying, "I can't believe it." Neither can I!  I remember selling those years ago for you know, like $450k, $500k. Let's see, 31 towns sold $855k on average and 8 semis sold for $930k on average. So semis, towns, everything is way up and actually when we get to the condo market (condo towns) 2 sold $692k on average and 3 condo apartments sold for $653k on average, which is incredibly high. Condos are doing well because detached or condo townhouses are getting too expensive, so people are moving to the condo market.  That's why the condos in Toronto are starting to take off again for a while. There were dead, but now things are starting to come in again - multiple offers all that stuff is coming back for those. 

Now getting to Georgetown and Glen Williams.  We had 5 sales of detached $1.35k on average - that's the highest I've ever seen for Georgetown/Glen Williams - ever. 5 bungalows sold $1,000,081 on average which is also incredibly high. Usually, right now they're selling in the $850k-$900k range but there were a few bigger ones that had helped that out.  There were 2 condos that sold as well for $547k on average. So, things in Georgetown are rocking along as well - not quite as much as Milton, but that's just the way it always is. And Milton is just not quite as much as Mississauga - kind of filters all the way through. 

So, that's my update for the week of February 7th to the 13th, 2021. Any questions, let me know. Send me a DM, PM, email, phone call, text message, whatever you want and I'll be sure to help you out. Take care and stay safe!