The results of Okanagan Mainline Real Estate Boards’s AUGUST 2015 Buyers Survey are now out. A total of 229 respondents participated in this survey – representing 48% of the 477 OMREB sales representatives who acted as Buyers Agents, and 27% of the 838 deals closed on behalf of Buyers in August.
This report shows us where the latest Kelowna Real Estate Buyers came from and what types of property they purchased.
AUGUST SURVEY SUMMARY
27.5% by Move-Up Buyers (up from 23.8% in July) *
18.3% by First Time Buyers (up from 15.9%) *
17.0% by Buyers Downsizing (down from 20.8%)
11.4% buying Revenue/Investment Property (up from 6.0%) *
9.2% buying Recreation Property (down from 9.8%)
5.2% moving from Single Family Home to Strata Unit (down from 10.9%)
3.1% moving from Strata Property to Single Family Home (up from 2.3%) *
2.6% moving into Retirement Home/Seniors Community (up from 2.3%) *
*During August, there were increases in purchases by move-up and first time buyers, moving from single family homes to stratas and from stratas to single family, or into retirement communities, and those purchasing investment properties, compared to the previous month.
Buyer Type (Family Dynamic):
29.1% Two Parent Family/Children (up from 25.4% in July) **
22.2% Empty Nester/Retired (up from 19.1%) **
20.1% Couple without Children (down from 26.6%)
14.1% Single Male (up from 12.7%) **
9.8% Single Female (down from 15.3%)
2.6% Single Parent with Children (up from 1.1%) **
** There were more purchases by two parent families, empty nesters/retirees, single parents and single males during August compared to July.
55.7% from Within OMREB Board Area (up from 56.5% in July) ***
16.6% from Alberta (up from 14.8%) ***
12.3% from Lower Mainland/Vancouver Island (up from 8.9%) ***
6.4% from Other Areas in BC (down from 8.2%)
4.2% from Saskatchewan/Manitoba (down from 4.4%)
2.9% from Eastern Canada/Maritimes (down from 5.2%)
1.7% from Outside Canada (same as July)
0% from NWT/Yukon (same as July)
*** More buyers moved from Alberta, migrated from Alberta, Saskatchewan and Manitoba during August than in the previous month.
Trish and Tanis
Tel 250 863 8989