Where did the Kelowna Real Estate Buyers come from last month and what were they Buying?
The results of the Okanagan Mainline Real Estate Board’s (OMREB) September 2015 are now out.
|A total of 264 respondents participated in this survey – representing 59% of the 446 OMREB sales representatives who acted as Buyers Agents, and 36% of the 741 deals closed on behalf of Buyers in September.
The number of ‘Move Up’ Buyers were down last month, and the number of people moving from Single Family Homes to Strata’s was up – Empty Nesters moving into Retirement Communities perhaps?
SEPTEMBER SURVEY SUMMARY
21.9% by Move-Up Buyers (down from 27.5% in August)
17.2% by First Time Buyers (down from 18.3%)
16.8% by Buyers Downsizing (down from 17.0%)
12.1% moving from Single Family Home to Strata Unit (up from 5.2%) *
10.2% buying Revenue/Investment Property (down from 11.4%)
10.2% buying Recreation Property (up from 9.2%) *
5.5% moving from Strata Property to Single Family Home (up from 3.1%) *
3.1% moving into Retirement Home/Seniors Community (up from 2.6%) *
* During September, there were increases in purchases by buyers moving from single family homes to stratas and from stratas to single family, or into retirement communities, and those purchasing recreation properties, compared to the previous month.
Buyer Type (Family Dynamic):
27.0% Two Parent Family/Children (down from 29.1% in August)
24.7% Empty Nester/Retired (up from 22.2%) **
20.2% Couple without Children (up slightly from 20.1%) **
13.7% Single Male (down from 14.1%)
11.0% Single Female (up from 9.8%) **
3.4% Single Parent with Children (up from 2.6%) **
** There were more purchases by empty nesters/retirees, single females and single parents during September compared to August.
56.2% from Within OMREB Board Area (up from 55.7% in August) ***
14.4% from Alberta (down from 16.6%)
12.5% from Lower Mainland/Vancouver Island (up from 12.3%) ***
6.4% from Other Areas in BC (same as August)
4.1% from Eastern Canada/Maritimes (up from 2.9%) ***
4.1% from Outside Canada (up 1.7%) ***
1.1% from Saskatchewan/Manitoba (down from 4.2%)
0.7% from NWT/Yukon (up from 0%) ***
*** More buyers moved from within the Board area, migrated from the Lower Mainland/Vancouver Island, Eastern Canada/Maritimes and NWT/Yukon, and immigrated from outside Canada during September than in the previous month.
Trish and Tanis
Tel 250 863 8989