Real Estate prices start 2022 up 57%

The real estate market in Merritt is starting off 2022 slow in the number of units sold, but hot in terms of the offers being accepted.

According to statistics provided by the Kamloops and District Real Estate Association (KADREA), 15 units were sold in the Merritt area in January, a decrease from the 27 units sold in 2021.

The average price of those homes sold is up 57.4 per cent to $583,416. The January price increase is second only to Barriere in the region. Units in Kamloops were up 34.5 per cent to $676,414.

Over the past 12 months, (Feb 2021 – Jan 2020), the average price of a unit sold in Merritt is up 23.6 per cent to $449,755. The 12-month increase is second lowest in the region ahead of only Kamloops.

KADREA lists Merritt and area as Merritt, Ashcroft, Cache Creek, Clinton, and Lillooet.