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“While this is one of the most active times of the year, we are seeing both listings and sales tapering off as we move into the fall months,” Sedgwick said.

Condo sales have fallen off the most but prices have remained stable. “This is thanks in part to the continuing trend of unit sales of over $750,000 that are keeping the average sales price of condos elevated by almost three per cent,” he said.

The number of days the average home took to sell in August was 55, the same as a year ago.

A lingering economic slump has also not deterred Albertans from spending on home fix-up projects, according to new Statistics Canada residential investment data.

Renovation spending in Alberta in April, May and June totalled 1.56 billion, a 4.7-per-cent increase over the same period in 2015.

In the first six months of 2016, Albertans spent $3.1 billion on home renovations, up 3.8 per cent over the first six months of 2015.

“The figures show Albertans continue to see spending on home improvements as a good investment,” said Richard Goatcher, an economic analyst with the Canadian Home Builders’ Association – Alberta.

The upward trend on home-renovation spending is likely to continue in 2017 when homeowners will be motivated to invest in energy-efficiency upgrades as the provincial government’s new carbon taxes and rebates for some Albertans take effect. There will be a tax on carbon of $20 per tonne of carbon dioxide emissions in 2017, going up to $30 per tonne in 2018.

bmah@postmedia.com

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