Merritt home prices end year up 42.8%

The Kamloops and District Real Estate Association has released the December home sales statistics for the region with Merritt home prices up over 118%.

In December 2021, 16 homes were sold in the area, down from 21 in 2020, however the average price of a unit sold is up to $782,118 for the month.

The year-to-date figures paint a clearer picture of the real estate market in the region with 358 units sold in 2021, a 17.3% increase over 2020. The average price of those units sold was up 42.8% in 2021, the second highest rate in the region.

For comparison, prices in Kamloops are went up 18.7% last year to $580,927.

“The rapid sales growth that was recorded across all Boards in BC during most months this year was a result of the favourable government policies, the technology boost that our industry received, and the way REALTORS® maneuvered difficult market situations. As consumer demand was high but there was much reluctance among both buyers and sellers after the re-opening in mid-2021,” said KADREA President, Chelsea Mann.