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