June 2016 sees Lower Mainland & Vancouver Buyers – Kelowna Real Estate

Hi All, We now have the latest report on where the recent Buyers have been coming from in the Kelowna Real Estate Market and Central Okanagan area for June 2016. There were a total of 511 responses representing 40% of the 1284 deals closed on behalf…

Hi All,

We now have the latest report on where the recent Buyers have been coming from in the Kelowna Real Estate Market and Central Okanagan area for June 2016. There were a total of 511 responses representing 40% of the 1284 deals closed on behalf of Buyers in June. 

First Time Buyers represented less of a share in June, with Buyers Moving Up in the Market being busier.

Buyers from the Lower Mainland, Vancouver and other areas of BC were busier, while Alberta Buyers remained stable in number.

JUNE SURVEY SUMMARY

Property Type:

20.8% by Relocating and moving to similar property type (down from 22.1% in May)

20.0% by Move-Up Buyers (up from 16.6%)

18.6% by Buyers Downsizing (up from 14%)

13.6% buying Revenue/Investment Property (up from 13.2%)

11.9% by First Time Buyers (down from 15.5%)

7.9% moving from Single Family Home to Strata Unit (down from 8.5%)

3.6% buying Recreation Property (down from 3.8%)

3.0% moving from Strata Property to Single Family Home (down from 3.2%)

2.6% moving into Retirement Home/Seniors Community (up from 2.1%)

Buyer Type (Family Dynamic):

25% Two Parent Family/Children (down from 28.9% in May)

24.7% Couple without Children (up from 19.1%)

20.7% Empty Nester/Retired (down from 21.2%)

13.5% Single Female (up from 12.1%)

11.2% Single Male (up from 13.4%)

4.7% Single Parent with Children (down from 4.9%)

Moving From:

55.7% from Within OMREB Board Area (down from 57.9% in May)

18.2% from Lower Mainland/Vancouver Island (up from 16.6%)

11.2% from Alberta (down from 11.9%)

8% from Other Areas in BC (up from 6.1%)

3.1% from Eastern Canada/Maritimes (no change from 3.1%)

2.5% from Saskatchewan/Manitoba (down from 2.9%)

1.2% from Outside Canada (down from 1.5%)

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

Kind Regards

Trish and Tanis

Tel 250 863 8989



Source: | Okanagan Mainline Real Estate Board (OMREB)

Trish & Tanis
trishandtanis@gmail.com
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