Okanagan Buyers Survey - February 2013

FEBRUARY SURVEY SUMMARY

Property Type:
21.3% of purchases were by Move-Up Buyers  (up from 19.8% in January)*
19.7% by First Time Buyers  (down from 24.8%)
12.6% purchasing Recreation Property  (up from 11.6%)
9.4% buying Revenue/Investment Property  (down from 13.2%)
7.1% moving from Single Family Home to Strata Unit  (down from 10.7%)
7.1% moving into Retirement Home/Seniors Community  (up from 2.5%)*
6.3% moving from Strata property to Single Family Home  (up from 3.3%)*

* During the month of February, there was an increase in purchases by Move-up Buyers as well as Seniors moving into Retirement Communities, and owners of Strata units moving to Single Family homes.

Buyer Type (Family Dynamic):
30.5% Two Parent Family/Children (down from 32.2% in January) 
25.8% Couple without Children (similar to January) 
18.8% Empty Nesters/Retired (down from 19.8%)
10.9% Single Female (similar to January) 
7.8% Single Male (down from 9.9%)
3.1% Single Parent with Children (up from 2.5%)**

** In February, there was an increase in purchases by Single Parent Families with Children, while other categories remained the same or saw decreases.

Moving From: 
68.2% from Within OMREB Board Area  (down from 61.5% in January)***
11.6% from Alberta (similar to January)
5.4% from Lower Mainland/Vancouver Island  (down from 14.8%)
5.4% from Other Areas in BC  (up from 4.1%)***
3.1% from Eastern Canada/Maritimes (down from 4.1%) 
3.1% from Saskatchewan/Manitoba (up from 2.5%)***
3.1% from Outside Canada  (up from 1.6%)***
0% from NWT/Yukon (same as January)

*** Compared to February, there was more movement from within the Board area and other areas of BC, and migration increased from overseas, but was down significantly from the Lower Mainland/Vancouver Island.

 

 Information provided by www.omreb.com 

If you want more information about market stats or if you are thinking about buying or selling, call the Dion-Ivans Real Estate Group today!!