Yikes, that's a scary title! I don't think any of us are interested in reliving the last dumpster fire of a year. But I do still want to give you a quick rundown of what happened in Real Estate in the Calgary Market (from our perspective).
The first thing I can tell you is that I have never been asked so many times what is going to happen and is it going to get worse? We are always asked as Realtors to answer Crystal Ball questions we've come to expect them and we while we can't answer ever with 100% certainty - we usually feel like we can help shed some light on where the market is headed.
However, THIS past crapshoot of a year had us all scratching our heads!! We were basically told in March (shortly after COVID fully hit Calgary) to expect the worst. That our already hard-hit economy and the housing market were going to take another huge hit and we should all hold on to our seats. Sales would be AWFUL and prepare our sellers as such. And then the market took off!!! Seriously, we would put up listings, and BAM SOLD! Listing after listing after listing, even seeing multiple offers.
Jen and I were running around like mad, getting one home staged... furniture moved in and set up, only to go in the next week and take it all back out again. We couldn't believe it. People kept asking us what was going on, why were sales up so much and all we could figure was a combination of pent-up demand from the Spring, all-time low interest rates, and people (Millenials) entering into the market that had been hesitant to in the past.
The fall and winter to date have seemed to level back out, but it is still fairly busy! We have a ton in the pipeline for the new year and while we still continue to hear threats and cautions about COVID's effect on the economy... we still have yet to actually see any impact. We are really looking forward to seeing what 2021 holds and are hopeful that we may just miss all of the Doom and Gloom that was originally predicted.
But don't just take my word, here are the actual sales statistics!
As always don't hesitate to reach out with any questions you may have. We are always happy to help.
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