Merritt home sales slow, while prices surge

The Kamloops and District Real Estate Association has provided August sale numbers for the region which saw prices in the Merritt area surge.

Despite only 21 properties being sold in August 2021, compared to 45 a year ago, the average price of those sold skyrocketed 68.2% to $625,923 from $372,120. The price jump was the largest in the region followed by Logan Lake at 52.5% and Barriere at 28.4%.

The year to date numbers paint a better picture for the Merritt market in terms of price increased at 19.6%. In 2020 the average price of a unit sold was $348,698, this year it’s $417,328. Merritt has seen the second smallest overall increase, just behind Kamloops are 19.3%.

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