OCTOBER OKANAGAN SURVEY SUMMARY

OCTOBER SURVEY SUMMARY

Property Type:
27.4% of purchases were by Move-Up Buyers
19.1% by First Time Buyers
10.1% moving from Single Family Home to Strata Unit
8.4% buying Revenue/Investment Property (up from 7.1% in September)*
7.3% purchasing Recreation Property
5.6% moving from Strata property to Single Family Home (up from 2.6% in September)*
2.8% moving into Retirement Home/Seniors Community

* During the month of October, there was a jump in the sales of Single Family Homes to owners of Strata Properties, and in the sale of Revenue/Investment Properties compared to September– as noted above. Other categories remained at similar levels to the previous month.

Buyer Type (Family Dynamic):
18.6% Two Parent Family/Children
24.0% Empty Nesters/Retired
23.0% Couple without Children
16.4% Single Male
14.8% Single Female (up from 12.6% in September)**
3.8% Single Parent with Children (up from 1.9% in September)**

** In October, there was a significant increase in purchases by Single Parents with Children, and by Single Females compared to September – as noted above, while other categories remained at similar levels as the previous month.

Moving From:
57.1% from Within OMREB Board Area (up from 50.9% in September)***
14.3% from Alberta (down from 21.4% in September)***
13.7% from Lower Mainland/Vancouver Island (up from 10.7% in September)***
8.8% from Other Areas in BC (up from 6.9% in September)***
2.7% from Eastern Canada/Maritimes (up from 1.3% in September)***
2.2% from Outside Canada
0.5% from Saskatchewan/Manitoba (down from 6.3% in September)***
0.5% from NWT/Yukon (14th month reported)

*** Compared to September, there was less migration from Alberta and Saskatchewan/Manitoba in October, but more movement from the Lower Mainland/Vancouver Island, other areas of BC, and Eastern Canada/Maritimes -- as noted above.

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