The average single-family price in Kamloops in July crossed $700,000.

At 706,824, that’s a 38.4 per cent jump from July of 2020.

President of the Kamloops and District Real Estate Association, Chelsea Mann, says a lack of supply has become a long-term problem.

“The demand has always been very strong, especially in Kamloops. We’re just having more people getting to the age where they can buy a home, and so that’s adding to the demand level. As well as those aging who want to downsize. So I don’t see the demand waning in any large way.”

Including all property types, the average property in Kamloops sold for $573,814 last month. That’s up from $501,259 from a year earlier.