Central Okanagan Buyers Survey - April

Property Type:
25.9% by First Time Buyers  (up from 16.2 in March)*
18.6% of purchases were by Move-Up Buyers  (down from 24.6% )
11.8% buying Revenue/Investment Property  (up from 10.6%)*
10.5% moving from Single Family Home to Strata Unit  (same as March – 10.6%)
5.5% moving into Retirement Home/Seniors Community  (down from 7.8%)
4.5% moving from Strata property to Single Family Home  (down from 6.1%)

* During the month of April, there was substantial increase in purchases by First-Time Buyers and a nominal bump-up in Revenue Property purchases by Investors, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):
24.8% Two Parent Family/Children (up from 23.1% in March)**
22.6% Empty Nesters/Retired (down from 27.5%)
21.7% Couple without Children (down from 25.8%) 
12.8% Single Male (up from 7.7%)**
10.6% Single Female (down from 12.6%)
5.3% Single Parent with Children (up from 2.2%)**

** In April, there was an increase in purchases by Two Parent Families with Children, and a significant rise in purchases by Single Males and Single Parents with Children, while other categories saw decreases.

Moving From: 
56.6% from Within OMREB Board Area  (down from 57.6% in March)
19.0% from Alberta (up from 17.9%)***
11.1% from Lower Mainland/Vancouver Island  (up from 8.7% )***
9.3% from Other Areas in BC  (down from 10.3% )
1.3% from Saskatchewan/Manitoba (down from 2.7%)
1.3% from NWT/Yukon (up from 0%)***
0.9% from Outside Canada  (down from 1.1%)
0.4% from Eastern Canada/Maritimes (down from 1.6%)

*** Compared to March, there was more movement from Alberta, Lower Mainland/Vancouver Island, and NWT/Yukon during April, and less migration from all other areas.

 

Information provided by www.omreb.com. 

 

Call The Dion-Ivans Real Estate Group for more information!!