Okanagan Buyers Survey - March 2013

Property Type:

24.6% of purchases were by Move-Up Buyers  (up from 21.3% in February)*
16.2% by First Time Buyers  (down from 19.7%)
10.6% moving from Single Family Home to Strata Unit  (up from 7.1%)*
10.6% buying Revenue/Investment Property  (down from 13.2%)
7.8% moving into Retirement Home/Seniors Community  (up from 7.1%)*
7.3% purchasing Recreation Property  (down from 12.6%)
6.1% moving from Strata property to Single Family Home  (down from 6.3%)

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

Buyer Type (Family Dynamic):

27.5% Empty Nesters/Retired (up from 18.8% in February)**
25.8% Couple without Children (same as February) 
23.1% Two Parent Family/Children (down from 30.5%) 
12.6% Single Female (up from 10.9%)** 
7.7% Single Male (similar to February)
2.2% Single Parent with Children (down from 3.1%)

** In March, there was an increase in purchases by Empty Nesters and Single Females, while other categories remained the same or saw decreases.

Moving From: 

57.6% from Within OMREB Board Area  (down from 68.2% in February)
17.9% from Alberta (up from 11.6%)***
10.3% from Other Areas in BC  (up from 5.4%)***
8.7% from Lower Mainland/Vancouver Island  (up from 5.4%)***
2.7% from Saskatchewan/Manitoba (down from 3.1%)
1.6% from Eastern Canada/Maritimes (down from 3.1%) 
1.1% from Outside Canada  (down from 3.16%)
0% from NWT/Yukon (same as February)

*** Compared to February, there was more movement from Alberta, other areas of BC, and 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!!