Every month the Okanagan Mainline Real Estate Board (OMREB) does a survey to get a better understanding of buyers. Below is a summary of the survey that shows what types of properties are being bought, the family dynamic of buyers and where the buyers are coming from. If you have any questions about this survey or any other Kelowna real estate stats, call The Dion-Ivans Real Estate Team!
APRIL SURVEY SUMMARY
28.7% of purchases were by Move-Up Buyers (up from 24.7% in March) *
21.1% by First Time Buyers (down from 22.3%)
10.6% moving from Single Family Home to Strata Unit (down from 11.6%)
9.9% buying Recreation Property (up from 7.4%) *
9.6% buying Revenue/Investment Property (up from 7.0%) *
6.3% moving into Retirement Home/Seniors Community (up from 4.2%) *
3.6% moving from Strata property to Single Family Home (up from 2.8%) *
* During the month of April, there was an increase in purchases by move-up buyers, and those moving into retirement/seniors communities and from strata properties to single family homes, as well as recreation and revenue properties, compared to the previous month.
Buyer Type (Family Dynamic):
27.8% Two Parent Family/Children (up from 20.0% in March) **
24.0% Couple without Children (down from 28.6%)
19.2% Empty Nester/Retired (down from 21.4%)
12.0% Single Male (down from 13.6%)
11.4% Single Female (up from 10.9%) **
3.5% Single Parent with Children (down from 4.1%)
** There were more purchases by two parent families with children and single females during April than in March.
51.1% from Within OMREB Board Area (up from 50.5% in March) ***
20.2% from Alberta (up from 17.1%) ***
10.1% from Other Areas in BC (down from 13.6%)
9.8% from Lower Mainland/Vancouver Island (down from 11.4%)
4.1% from Saskatchewan/Manitoba (up from 2.7%) ***
3.1% from Eastern Canada/Maritimes (up from 2.3%) ***
1.6% from Outside Canada (down from 3.2%)
0% from NWT/Yukon (same as March)
*** Compared to March, more buyers moved from within the Board area, Alberta, other areas of BC, the Lower Mainland/Vancouver Island, Saskatchewan/Manitoba, and Eastern Canada/Maritimes in April.