Kamloops home prices continued to soar to new records in November.

The average single-family home in the Thompson-Nicola region cost $593,651 last month, which is nearly $30,000 higher than the previous one-month price record set in September. Last month’s average price was 12.9 per cent higher than November of 2019.

For multi-family units, the average selling price last month in the Kamloops area was $374,688, which is also a 12.9 per cent increase from last November.

Kamloops and District Real Estate Association president Wendy Runge says with a second wave of COVID-19 upon us as well as the holidays, sales will slow down in the weeks ahead. “But factors such as low interest rates, high demand for single-family homes, and a rising average price will hopefully aid the slow path to a full market recovery in 2021,” Runge says.

The average sale price for all residential properties in Kamloops this year is $487,319, which is a 7.8 per cent increase from 2019.