By Ashley Legassic

Median house price in Kamloops is now over $500,000 mark

Apr 1, 2019 | 2:03 PM

KAMLOOPS — For the first time ever, the median home price in Kamloops has surpassed the half-million dollar mark.

In a news release, the Kamloops and District Real Estate Association says the market in Kamloops experienced an increase in sales and prices in March 2019 compared to the previous year.

There were 218 residential sales during the month, compared to 208 last year.

Year-to-date residential sales were almost even with 2018, the release says, with 555 homes changing hands in 2019 compared to 562 last year.

There was a marked increase in new listings, with 421 new homes hitting the market — a 16 per cent increase over the same month last year.

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Housing prices remain strong in the region, with a nearly 30 per cent increase in the sale of homes over $600,000, which pushed the median price in Kamloops to $502,500, compared to $462,500 during March 2018.

The average price of all home sales last month was $406,603, up six per cent compared to March 2018.

Average single-family home prices during the month jumped to $488,777, compared to $471,143 last year.

Sahali was the most active area during March with 20 sales, followed by Sun Peaks with 18 sales and Aberdeen with 17 sales.

“This is the first time in recent history that Sun Peaks has been one of the top producing areas,” the release states.