There was another drop in the sales prices of Calgary homes in October, the second consecutive month of decline. The Calgary Real Estate Association says that benchmark prices declined 0.7 per cent from the previous month, and 1.2 per cent from the same time last year, to $453,100. New listings added to the overall inventory, putting downward pressure on prices.

Apartments suffered the largest loss with a 0.8 per cent drop in the benchmark price to $288,300 month-over-month and almost 4 per cent lower than October 2014.

Overall, October sales in the city declined by 33 per cent year-over-year to 1,421 units, with year-to-date sales falling by more than 26 per cent. Meanwhile, inventory levels during the month remained at 5,578 units, pushing months of supply up to 3.93.

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