Increase of 6.5% in Alberta Real Estate Buyers according to latest Survey

Hi All, While most of the market was ‘steady as she goes’, we saw a marked increase, of 6.5%, in Alberta Real Estate Buyers during August and a 5.9% reduction in local Buyers. In the Kelowna Real Estate Market, we certainly saw more investors looking than…

Hi All,

While most of the market was ‘steady as she goes’, we saw a marked increase, of 6.5%, in Alberta Real Estate Buyers during August and a 5.9% reduction in local Buyers.

In the Kelowna Real Estate Market, we certainly saw more investors looking than last year, and Buyers looking to move into the area.

The results are in:  400 responses, representing 40% of the 989 deals closed on behalf of Buyers in August.

Kelowna and Central Okanagan Real Estate Summary August 2016

Property Type:
18.4% by First Time Buyers (up from 17.4% in July)
18.2% by Relocating and moving to similar property type (down from 21.4%)
16.2% by Move-Up Buyers (down from 17.7%)
15.4% buying Revenue/Investment Property (up from 12.7%)
13.4% by Buyers Downsizing (down from 14.7%)
8.1% buying Recreation Property (up from 4.2%)
5.8% moving from Single Family Home to Strata Unit (up from 5.2%)
1.8% moving from Strata Property to Single Family Home (down from 5.5%)
1.5% moving into Retirement Home/Seniors Community (down from 2.0%)

Buyer Type (Family Dynamic):
28.9% Two Parent Family/Children (down from 29.7% in July)
21.1% Couple without Children (down from 22.9%)
20.3% Empty Nester/Retired (down from 21.1%)
12.9% Single Male (up from 8.8%)
11.2% Single Female (down from 13.8%)
3.8% Single Parent with Children (up from 3.4%)

Moving From:
where-did-the-buyers-come-from-aug-2016-central-okanagan54.0% from Within OMREB Board Area (down from 59.9% in July)
16.5% from Lower Mainland/Vancouver Island (down from 17.8%)
15.8% from Alberta (up from 9.3%)
6.5% from Other Areas in BC (down from 6.6%)
2.8% from Outside Canada (up from 2.2%)
2.3% from Eastern Canada/Maritimes (up from 2.2%)
2.3% from Saskatchewan/Manitoba (up from 1.7%)
0% from NWT/Yukon (down from 0.2%)

Kind Regards

Trish and Tanis

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Source: August 2016 Buyers Survey Results | Okanagan Mainline Real Estate Board

Trish & Tanis
trishandtanis@gmail.com
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