Relocating Buyers busy in the Kelowna Real Estate Market!

Hi All, According to the latest May 2016 Buyers Survey results, published by the Okanagan Mainline Real Estate Board, people relocating to Kelowna and the Okanagan Valley area, were the busiest Buyers in our Real Estate Market last month. The Survey received a total of 477…

Hi All,

According to the latest May 2016 Buyers Survey results, published by the Okanagan Mainline Real Estate Boardpeople relocating to Kelowna and the Okanagan Valley area, were the busiest Buyers in our Real Estate Market last month.

The Survey received a total of 477 responses representing 40% of the 1187 deals closed on behalf of Buyers in May.

MAY SURVEY SUMMARY

Property Type:

22.1% by Relocating and moving to similar property type (up from 16.3% in April)

16.6% by Move-Up Buyers (down from 17.9%)

15.5% by First Time Buyers (down from 16.1%)

14% by Buyers Downsizing (down from 15.2%)

13.2% buying Revenue/Investment Property (down from 16.3%)

8.5%% moving from Single Family Home to Strata Unit (up from 7.8%)

3.8% buying Recreation Property (down from 5.4%)

3.2% moving from Strata Property to Single Family Home (down from 4%)

2.1% moving into Retirement Home/Seniors Community (up from 1.8%)

 Buyer Type (Family Dynamic):

28.9% Two Parent Family/Children (up from 26.9% in April)

21.2% Empty Nester/Retired (down from 23.8%)

19.1% Couple without Children (down from 21.7%)

13.4% Single Male (up from 12.3%)

12.1% Single Female (up from 10.8%)

4.9% Single Parent with Children (up from 3.1%)

Moving From:

57.9% from Within OMREB Board Area (down from 58.7% in April)

16.6% from Lower Mainland/Vancouver Island (down from 18.3%)

11.9% from Alberta (up from 10.7%)

6.1% from Other Areas in BC (down from 6.5%)

3.1% from Eastern Canada/Maritimes (down from 3.8%)

2.9% from Saskatchewan/Manitoba (up from 1.6%)

1.5% from Outside Canada (up from 0.4%)

0% from NWT/Yukon (no change from 0%)

Kind Regards

Trish and Tanis Real Estate

Tel 250 863 8989

 



Source: |

Trish & Tanis
trishandtanis@gmail.com
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