Merritt area real estate stays hot in June

The Merritt area continues to see a fast-moving real estate market with 32 units sold in June. That compares to 28 in June of 2020 according to the latest data from Kamloops and District Real Estate Association (KADREA).

The average price of a unit sold in the area is up 38.6% from a year ago with the average price sitting at $477,403.

“June sales figures are lower than we expected but the hot market was bound to calm down at some point. Summer months usually see a drop and then the market picks up again in the fall,” said KADREA President, Chelsea Mann

The year to date numbers paint a similar picture. The average price of a unit sold in 2021 is up 17.1%, which is the lowest in the region. Prices in Kamloops are up 21.1, Barriere up 57.9, Logan Lake 65.7, and Chase 89.7.

“Yes, our sales are still very strong and multiple-offer scenarios continue to encourage sellers to extract the best value for their property. As we enter Step 3 of BC’s re-opening, the market will pick up again and as predicted by the experts,” added Mann.

*Merritt & Area includes: Merritt, Ashcroft, Cache Creek, Clinton, Lillooet.