Realtor David Jurek says the South Cariboo market is booming with a lot of new people coming to town..
“We’ve been seeing a lot of people coming up from the coast and the Okanagan. We expect that trend to continue.”
He says there was a small decline in house sales in the summer due to the wildfires.
“The market should remain very active now that the wildfires are hopefully behind us. We have 159 properties listed, which is about three months of inventory.”
Jurek says it has been a seller’s market for a good year and a half now.
“4 to 6 months is a good buyer market but since we are still in a 3-month inventory, it’s still a seller’s market.”
He says the average selling price has rose significantly since last year.
“The average house price almost went up another 100,000 dollars since last year. For sales, we have had about a 149 million dollars increase in residential sales versus 92 million last year. We have sold 341 residential listings this year, up from 272 last year.”
Jurek believes these trends will continue throughout the fall.