Christine Versnick CIR Realtor
130, 703 64 Ave SE T2H2C3 Calgary, AB, Canada

The market continues to heat up but showings are down?? The last week in January saw the showings taper offer from the busy week prior. Our current rate of showing sis more comparable to this time of year in 2019, down slightly from the same time period in 2020. This appears to not be due to lack of demand, but rather to the lack of inventory that is currently available. The active listing inventory across the Province is down -23% from 2020, and down -29% form the same time... in 2019! Even with the drop in inventory, the sales outpace last years numbers by +44%! This has caused our months of inventory to drop to 4.6 months across Alberta. Due to this decrease in inventory, buyers are competing for the properly priced inventory, and sales are up in all price ranges year over year.

We raised over $150,000 for AARCS and the Ronald McDonald House in 2020 - a huge help in a very tough year for both organizations. I give a portion of my commission from every transaction I do. Giving and helping is so important top me. Thanks to my clients for helping give every year.

CREB forecast for 2021: Modest gains in Calgary housing market expected in 2021 Calgary, Jan. 26, 2021 In 2020, housing markets across the country surprised many with a stronger-than-expected rebound in the second half of the year despite record-high unemployment rates and significant job losses. Calgary did not hit record-high sales or prices in the third or fourth quarters, but still posted some of the strongest sales relative to the past five years. This was nearly en...ough to offset the initial losses recorded during the first shutdown caused by the pandemic. It is expected some of the momentum recorded at the end of 2020 will continue into 2021, fueled by exceptionally low lending rates and pent-up demand, said Ann-Marie Lurie, CREB Chief Economist. While sales are expected to rise by nearly five per cent on an annual basis in 2021, persistent economic challenges are expected to prevent stronger growth in our housing market. Reduction in supply relative to sales is the primary reason the Calgary housing market returned to more balanced conditions by the end of 2020. The pullback in new listings relative to sales activity resulted in inventory levels falling to the lowest levels seen in the past several years. As we move into 2021, we anticipate new listings will start to rise, as COVID-19 likely caused many homeowners to delay listing their homes. We could start to see some supply come back in 2021, as concerns regarding the spread of the virus ease. Persistently high unemployment rates could also weigh on some existing homeowners who may need to sell their homes. Growth in supply is expected to offset some of the gains in sales, pushing our market to the upper bounds of balanced conditions and slowing price recovery. However, the price gains that occurred at the end of 2020 are not expected to be eroded and 2021 annual prices are forecasted to improve by over one per cent.

The housing market ends 2020 on a high note. This is the highest December total since 2007. Housing demand over the second-half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring. Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like we saw in the earlier part of the year. Attractive interest rates along with prices that remain lower than several... years ago have likely supported some of the recovery in the second half of the year. It is important to note that annual sales activity declined by one per cent compared to last year and remain well below long-term averages. Reductions in supply and improving demand in the second half of the year have contributed to some of the recent price improvements in the market. However, the recent gain in the benchmark price was not enough to offset earlier pullbacks as the annual residential benchmark price in Calgary declined by one per cent over last year. The pandemic has resulted in a significant shift in economic conditions, yet the housing market is entering 2021 in far more balanced conditions than we have seen in over five years. This will help provide some cushion for the market moving into 2021, but conditions will continue to vary depending on price range, location, and product type. See more

Congratulations to my buyer who took possession in Mahogany right ponds the ponds and pathways. They'll be able to relax on the patio and listen to the birds and enjoy the wildlife. It's like a little slice of country living.

Yeh ... possession day has come for my buyers! The big bin has arrived and the removal of the floor will begin. New flooring, new paint throughout and move in for Christmas Congrats.

Congrats to my buyer who has entered real estate ownership. She is now putting money in her own bank account and not her landlords. Yeh!

With strong gains in the detached sector, October sales was 23 per cent increase over last year and well above longer-term averages. The gain in citywide residential sales outpaced the growth in new listings, supporting tighter market conditions and improving prices. Over the past several years, higher lending rates and the stress test pushed many out of the detached housing market. However, recent declines in rates, combined with prices that are lower than several years ago,... have brought back some of that demand. This is helping support more balanced conditions and price improvements in the market. However, price improvements are not occurring across all product type and price ranges and downside risk still hangs over future conditions. Improving sales over the past four months were not enough to offset the pullbacks in the second quarter, leaving year-to-date sales nearly six per cent below last year’s levels. The same is also true for prices. Benchmark prices have trended up over the past four months and October prices were slightly higher than 2019. On a year-to-date basis, prices are one per cent lower than last year’s levels and nearly 10 per cent below previous highs. See more

September sales activity was the strongest September in sales total since 2014. New listings in September improved over last month, but levels remained comparable to the previous year. The increase in sales relative to new listings did prevent any monthly gains in inventory levels, but supply in the market is still down 12 per cent compared to last year. The showing activity has had a considerable slow down across the Province. It has dropped from what was 123.3% higher last week compared to last year, down to 113.5% this week compared to the same time last year. This is obviously still quite an improvement year over year as there is still a good amount of activity in the market.

Congratulations to my buyer who now owns a suite in the Drake. A new life style and a new beginning.

Congrats to my seller ... she gave the keys to the new owner!

COVID-19 shutdowns occurred over the traditionally busiest quarter for real estate sales. Some of the recent gains reflect activity that would have occurred in those months shifting into July. Some demand is returning to the market, but so is the supply. With higher sales for both detached and semi-detached product, July sales totals rose above last year's levels. Despite the improvements in July, year-to-date sales remain 15 per cent lower than last year's levels. There have been improvements relative to the lowest sales levels caused by COVID-19, but it is too early to say things are shifting back to pre-pandemic levels. We are still facing record high unemployment rates, significant government aid, and uncertainty throughout the business community. This will continue in the coming months.