Who's buying in the Okanagan???

The results of OMREB's NOVEMBER 2012 Buyers Survey are in!   A total of 172 respondents participated in this survey – representing 59% of the 292 OMREB sales representatives who acted as Buyers Agents, and 42% of the 409 deals closed on behalf of Buyers in November.

 

NOVEMBER SURVEY SUMMARY
Property Type:

28.7% of purchases were by Move-Up Buyers 
18.9% by First Time Buyers 
12.8% buying Revenue/Investment Property (up from 8.4% in October)*
10.4% moving from Single Family Home to Strata Unit
9.1% purchasing Recreation Property (up from 7.3% in October)*
4.3% moving from Strata property to Single Family Home 
3.7% moving into Retirement Home/Seniors Community (up from 2.8% in October)*

* During the month of November, there was a jump in the sales of Revenue/Investment and Recreation Properties, and an increase in Seniors moving to Retirement Communities compared to October – as noted above. Other categories remained at similar levels to the previous month.

Buyer Type (Family Dynamic):
27.1% Couple without Children 
27.1% Two Parent Family/Children (up from 18.6% in October)**
19.4% Empty Nesters/Retired  (down from 24.0% in October)**
10.0% Single Female (down from 14.8% in October)**
8.8% Single Male (down from 16.4% in October)**
5.3% Single Parent with Children (up from 3.8% in October)**

** In November, there was a significant increase in purchases by Two Parent Families with Children, and by Single Parents compared to October – as noted above, while other categories saw decreases or remained at similar levels as the previous month.

Moving From: 
57.6% from Within OMREB Board Area  
11.6% from Alberta  (down from 14.3% in October)***
10.5% from Lower Mainland/Vancouver Island  (down from 13.7% in October)***
9.3% from Other Areas in BC (up from 8.8% in October)***
4.1% from Saskatchewan/Manitoba (up from 0.5% in October)***
3.5% from Outside Canada (up from 2.2% in October)***
2.9% from Eastern Canada/Maritimes 
0.6% from NWT/Yukon (15th month reported)

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

NOVEMBER 2012 RESULTS & HIGHLIGHTS:   Click here for full summary of survey with pie charts, and here for highlights for this month. For the “Who is Buying Homes in the Okanagan-Shuswap?” hand-out for December 2012, click here.

2011 & 2012 PIE CHARTS - Averages:  Click here for pie charts showing averages compiled for all five Survey categories during the first 9 months of 2012 (3 quarters), and here for 2011.  For averages for the two main categories - Buyer Type and Where From - compiled for the past 27 months (since September 2010), click here.

REALTORLink Archive:  Monthly Buyers Survey results, averages and highlights are posted and archived for easy reference and download on OMREB's Statistics page on REALTORLink.

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