Okanagan Mainline Real Estate Board's May 2013 Survey results

According to the OMREB's May 2013 Survey, the results are as follows:

Property Type:

24.5% of purchases were by Move-Up Buyers  (up from 18.6% in April)* 
17.5% by First Time Buyers  (down from 25.9%)
15.0% moving from Single Family Home to Strata Unit  (up from 10.5%)*
7.3% buying Revenue/Investment Property  (down from 11.8%)
7.3% buying Recreation Property  (down from 7.7%)
5.8% moving into Retirement Home/Seniors Community  (up from 5.5%)*
4.4% moving from Strata property to Single Family Home  (same as April – 4.5%)

* During the month of Mary, there was substantial increase in purchases by Move-up Buyers and downsizing from Single Family to Strata, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):
24.4% Two Parent Family/Children (similar to April – 24.8%)
24.4% Couple without Children (up from 21.7%)**
23.5% Empty Nesters/Retired (up from 22.6%)**
11.7% Single Female (up from 10.6%)**
8.9% Single Male (down from 12.8%)
1.4% Single Parent with Children (down from 5.3%)

** In May, there was an increase in purchases by Couples without Children, Empty Nesters/Retirees, and Single Females, while other categories saw decreases.

Moving From: 
55.5% from Within OMREB Board Area  (down from 56.6% in April)
21.6% from Alberta (up from 19.0%)***
7.4% from Lower Mainland/Vancouver Island  (down from 11.1% )
5.7% from Saskatchewan/Manitoba (up from 2.3%)***
4.9% from Other Areas in BC  (down from 9.3%)
2.8% from Eastern Canada/Maritimes (up from 0.4%)***
1.8% from Outside Canada  (up from 0.9%)***
0.4% from NWT/Yukon (down from 1.3%)

*** Compared to April, there was more movement from Alberta, Saskatchewan/Manitoba, Eastern Canada/Maritimes, and Outside Canada, with less migration from all other areas.

FOR MORE INFORMATION ON REAL ESTATE STATISTICS IN THE KELOWNA AREA, PLEASE CONTACT ME DIRECTLY.

TERRI ANN NOVELLO, REALTOR
CENTURY 21 ASSURANCE REALTY LTD.
EMAIL: terriann.novello@century21.ca
CELL: 250-808-1005
Terri Ann Novello

Terri Ann Novello

REALTORĀ®
CENTURY 21 Assurance Realty Ltd.
Contact Me