North Okanagan Real Estate - Where are the buyer's coming from?


August stats for the North Okanagan Real Estate show that buyers are within our own backyard.

AUGUST SURVEY SUMMARY

Property Type:
26.6% of purchases were by Move-Up Buyers
16.2% by First Time Buyers
15.3% purchasing Recreation Property  (up from 9.7% in July)*
9.9% buying Revenue/Investment Property
8.6% moving from Single Family Home to Strata Unit
6.8% moving into Retirement Home/Seniors Community (up from 3.9% in July) *
2.7% moving from Strata property to Single Family Home

* During the month of August, there was a noticeable jump in sales to Buyers of Recreation Property (15.3% compared to 9.7%) and to Purchasers of Retirement Home/Seniors Community Units (6.8% compared to 3.9%) over July.

Buyer Type (Family Dynamic):
33.0% Two Parent Family/Children (from 26.4% in July)**
24.6% Empty Nesters/Retired 
20.5% Couple without Children
11.6% Single Male
6.3% Single Female
3.6% Single Parent with Children

** In August, there was a significant increase in purchases by Two Parent Families with Children -- 33.0% compared to 26.4% in July.

Moving From:
58.7% from Within OMREB Board Area  (47.2% in July)***
19.1% from Alberta
9.8% from Lower Mainland/Vancouver Island
4.9% from Other Areas in BC
2.7% from Saskatchewan/Manitoba
2.2% from Eastern Canada/Maritimes
1.3% from Outside Canada 
1.3% from NWT/Yukon (12th month reported)

*** Compared to July, there was more movement within the Board Area in August -- rising to 58.7% of purchases from 47.2% in the previous month.

Nancy Venditello

Nancy Venditello

Sales Representative
CENTURY 21 Executives Realty Ltd.
Contact Me

Blog Archives