JANUARY BUYERS SURVEY SUMMARY~ Whos buying in the Okanagan?

The results of OMREB's JANUARY 2014 Buyers Survey are now in and posted!  A total of 136 respondents participated in this survey – representing 53% of the 257 OMREB sales representatives who acted as Buyers Agents, and 37% of the 372 deals closed on behalf of Buyers in January.

JANUARY SURVEY SUMMARY

Property Type:
26.4% of purchases were by Move-Up Buyers  (up from 25.4% in December) *
20.8% by First Time Buyers  (up from 20.1%) *
14.4% moving from Single Family Home to Strata Unit  (up from 11.9%) *
8.0% buying Recreation Property  (up from 7.5%)
6.4% buying Revenue/Investment Property  (down from 8.2%) 
6.4% moving from Strata property to Single Family Home  (up from 5.2%) *
4.0% moving into Retirement Home/Seniors Community  (down from 4.5%)

* During the month of January, there was an increase in purchases by Move-up and First-time buyers, and those moving to single family homes from strata, and from single family to retirement communities.  

Buyer Type (Family Dynamic):
23.7% Empty Nester/Retired (up from 16.4% in December) ** 
20.7% Two Parent Family/Children (down from 31.3%) 
19.3% Couple without Children (down from 28.4%)
17.0% Single Female (up from 11.9%) **
14.1% Single Male (up from 9.7%) **
6.7% Single Parent with Children (up from 3.0%) **

** There were more purchases by empty nesters/retirees, singles, and single parents with children in January compared to the previous month.

Moving From: 
60.3% from Within OMREB Board Area  (down from 66.2% in December) 
13.2% from Alberta (down from 14.0%)
11.0% from Other Areas in BC  (up from 5.1%) ***
6.8% from Lower Mainland/Vancouver Island  (up from 6.6%) ***
4.4% from Saskatchewan/Manitoba (up from 2.2%) ***
2.2% from Eastern Canada/Maritimes (down from 2.9%)
1.5% from Outside Canada  (down from 2.9%)
0.7% from NWT/Yukon (up from 0%) ***

*** Compared to December, fewer buyers moved from within the Board area, Alberta, Eastern Canada and overseas last month, while purchasers from other areas increased.

JANUARY 2014 RESULTS & HIGHLIGHTS: 
* Full summary of survey results with pie charts
* This month's highlights
Who is Buying Homes in the Okanagan-Shuswap? hand-outfor February use (includes averages for 2010-2014)

2011-2013 PIE CHARTS:  
Compiled averages to show trends:
2013 pie charts for the year (January through December) - averages for all five Survey categories  
2012 and 2011 pie charts to compare.

REALTOR Link® Archive:  Monthly Buyers Survey results, averages and highlights are posted and archived for easy reference and download on OMREB Statistics page on REALTOR Link®.

Kim Heizmann

Kim Heizmann

Personal Real Estate Corporation
CENTURY 21 Executives Realty Ltd.
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