Nearly 7,000 fewer homes changed hands in Calgary in 2015 than the year before, as sales volumes plunged 26.3 per cent, according to year-end stats from the Calgary Real Estate Board (CREB).
The month of December saw just 878 homes sold in the city, while 1,483 new listings came on the market.
That wrapped up an anemic year in the city's real-estate market, which saw average sale prices dip to $469,337, down 2.6 per cent from 2014.
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"December showed that buyers in this market are continuing to be much more cautious as the impact of further oil price declines weighs on their confidence," CREB president Corinne Lyall said in a statement.
"Some sellers, meanwhile, are concerned about what supply levels may look like next year and are not delaying their decisions."
Calgary homes sold in 2015 sat on the market for an average of 41 days, up from 33 days in 2014.