Calgary median prices and selling prices of detached single-family resale homes are falling according to the Calgary Real Estate Board.
Median prices are the middle prices in ranges and are considered more accurate than average prices when measuring resale markets.
October 2010’s median price was $387,900--$2,100 less than September’s median, and $23,000 less than October 2009’s.
According to Gary MacLean of Re/Max Central, the gap in numbers is even larger. MacLean has been tracking prices, listings and sales for years.
MacLean said the median price of homes in northeast Calgary fell $31,000 from its 2010 high of $320,000. In northwest Calgary, median prices fell $35,000 from a high of $440,000 and in southeast Calgary, median prices fell $28,000 from