Merritt home sales stay hot in October

The Merritt real estate market remained hot in October with another 32 units sold across the region. While the number of units sold is a slight decrease from October 2020, the price of a unit sold in up 27.1%, to $484,033.

“The real estate market across BC is quite evidently facing the same situation that Kamloops is. In the simplest terms, high consumer demand continues to drive sales but it’s the supply that’s holding the entire market back. This leads to constant upward pressure on average prices and may begin directing buyers away to more affordable areas in the province,” said KADREA President, Chelsea Mann.

So far this calendar year, 319 units have been sold at the average price of $418,426, an increase from the 2020 mark of $366,376.

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