September 2013 Market Stats

The Central Okanagan stats for September were just released. Overall the market continues to improve, with sales increasing and listings decreasing!! Below are the detailed stats, contact The Dion-Ivans Real Estate Group for more information!!

The number of property sales in the Okanagan jumped sharply last month, with almost 50 per cent more sales activity than during the same time in 2012.

“Rising home sales combined with a downward trend in active listings have improved overall housing market conditions in the Okanagan and Shuswap. However, we remain firmly in buyers’ market territory,” says Karen Singbeil, president of the Okanagan Mainline Real Estate Board.

“Current conditions suggest stable to modest downward pressure on home prices. Successful home sellers typically have a sharp pencil when setting their asking price as a result of competition amongst sellers.”

Many areas saw a spike in sales, including the Central Zone, which extends from Peachland to Lake Country. Overall sales were up 47.8 per cent, while sales jumped 20.8 per cent in the North Zone, extending from Predator Ridge to Enderby.

The largest jump occurred in the Shuswap zone from Salmon Arm to Revelstoke. Sales for September increased 87.7 per cent and residential sales saw a 133.3 per cent improvement from the same time in 2012.

Overall sales on all property types across the board improved by 45.4 per cent in September, with 663 units sold compared 456 in 2012. Total residential sales for the month rose 48.4 per cent to 586 units compared to 395 in September 2012.

New listings rose 78.5 per cent over last September (to 257 from 144), while overall inventory dipped 2.3 per cent.

AUGUST SURVEY SUMMARY

Property Type:
25.4% of purchases were by Move-Up Buyers  (up from 22.8% in July)*
17.3% by First Time Buyers  (down from 17.9%) 
13.5% moving from Single Family Home to Strata Unit  (up from 9.8%)*
11.2% buying Recreation Property  (up from 10.8%)*
8.5% buying Revenue/Investment Property  (down from 11.0%)
6.5% moving into Retirement Home/Seniors Community  (up from 4.5%)*
3.5% moving from Strata property to Single Family Home  (down from 5.7%)

* During the month of August, there was a significant increase in purchases by move-up buyers, home owners downsizing to strata units and retirement communities, as well as recreation property buyers, while other categories saw a drop from the previous month.

Buyer Type (Family Dynamic):
25.3% Two Parent Family/Children (up from 24.0% in July)**
23.4% Couple without Children (up from 23.2%)**
20.1% Empty Nester/Retired (down from 23.2%)
13.8% Single Female (up from 12.2%)**
11.2% Single Male (down from 14.2%)
4.5% Single Parent with Children (up from 2.0%)**

** In August, there were more purchases by two parent families and couples without children, and by single females and single parent families, while all other categories saw decreases.

Moving From: 
50.7% from Within OMREB Board Area  (down from 54.7% in July)
21.6% from Alberta (up from 14.8%)***
10.8% from Other Areas in BC  (up from 10.5%)***
9.0% from Lower Mainland/Vancouver Island  (down from 12.1%)
3.4% from Saskatchewan/Manitoba (up from 2.0%)***
1.9% from NWT/Yukon (up from 0.8%)***
1.5% from Eastern Canada/Maritimes (down from 3.5%)
1.1% from Outside Canada  (down from 1.6%)

*** Compared to July, there were more buyers moving from Alberta, other areas of BC, Saskatchewan and Manitoba, and the Northwest Territories and Yukon, but less movement from within the Board area and fewer purchasers from the Lower Mainland and Vancouver Island, Eastern Canada and the Maritimes, and from outside Canada during August. 

Information provided by www.omreb.com. For more information call The Dion-Ivans Real Estate Group today!!

JULY SURVEY SUMMARY

Property Type:

22.8% of purchases were by Move-Up Buyers  (down from 23.7% in June) 
17.9% by First Time Buyers  (up from 17.5%)*
11.0% buying Revenue/Investment Property  (up from 8.6%)*
10.8% buying Recreation Property  (up from 5.1%)*
9.8% moving from Single Family Home to Strata Unit  (down from 17.1%)
5.7% moving from Strata property to Single Family Home  (up from 4.3%)*
4.5% moving into Retirement Home/Seniors Community  (down from 4.7%)

* During the month of July, there was a significant increase in purchases by revenue/investment and recreation property buyers, and by home owners downsizing to strata units, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):

24.0% Two Parent Family/Children (up from 20.3%)**
23.2% Empty Nester/Retired (down from 28.6% in June)
23.2% Couple without Children (down from 27.8%)
14.2% Single Male (up from 6.8%)**
12.2% Single Female (up from 11.3%)**
2.0% Single Parent with Children (down from 2.3%)

** In July, there were more purchases by two parent families with children, and by singles (males in particular), while all other categories saw decreases.

Moving From: 

54.7% from Within OMREB Board Area  (down from 58.8% in June)
14.8 % from Alberta (down from 18.8%)
12.1% from Lower Mainland/Vancouver Island  (up from 7.5%)***
10.5% from Other Areas in BC  (up from 8.3%)***
3.5% from Eastern Canada/Maritimes (up from 0.8%)***
2.0% from Saskatchewan/Manitoba (down from 3.4%)
1.6% from Outside Canada  (up from 1.1%)***
0.8% from NWT/Yukon (up from 0.4%)

*** Compared to June, there were more buyers moving from other areas of BC and the Lower Mainland/Vancouver Island, as well as more migration from Eastern Canada and Maritime provinces, but less movement from within the Board area and fewer purchasers from Alberta, Saskatchewan and Manitoba during July.

Information provided by www.omreb.com

Contact the Dion-Ivans Real Estate Group if you have any questions. 

Property Type:
23.7% of purchases were by Move-Up Buyers  (down from 24.5% in May) 
17.5% by First Time Buyers  (same as May)
17.1% moving from Single Family Home to Strata Unit  (up from 15.0%)*
8.6% buying Revenue/Investment Property  (up from 7.3%)*
5.1% buying Recreation Property  (down from 7.3%)
4.7% moving into Retirement Home/Seniors Community  (down from 5.8%)
4.3% moving from Strata property to Single Family Home  (same as May)

* During the month of June, there was an increase in owners downsizing from Single Family to Strata, and revenue property purchases by investors, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):
28.6% Empty Nester/Retired (up from 23.5% in May)**
27.8% Couple without Children (up from 24.4%)**
20.3% Two Parent Family/Children (down from 24.4%)
11.3% Single Female (down from 11.7%)
6.8% Single Male (down from 8.9%)
2.3% Single Parent with Children (up from 1.4%)**

** In June, there were more purchases by empty nesters/retirees, couples without children and single parents, while other categories saw decreases.

Moving From: 
58.8% from Within OMREB Board Area  (up from 55.5% in May)***
18.8 % from Alberta (down from 21.6%)
8.3% from Other Areas in BC  (up from 4.9%)***
7.5% from Lower Mainland/Vancouver Island  (same as May)
3.4% from Saskatchewan/Manitoba (down from 5.7%)
1.1% from Outside Canada  (down from 1.8%)
0.8% from Eastern Canada/Maritimes (down from 2.8%)
0.4% from NWT/Yukon (same as May)

*** Compared to May, there was more movement from within the Board area and other areas of BC, and less migration from elsewhere last month.

For more information call The Dion-Ivans Real Estate Group today!!

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.

Information provided by www.omreb.com

Call The Dion-Ivans Group today for more information!!

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!!

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!!

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!!

Royal LePage Newsletter - March 2013 

Below is a summary of where the buyers are coming from, who they are, and what type of properties they are buying. Contact The Dion-Ivans Real Estate Group for the latest market stats.

Property Type:
24.8% by First Time Buyers (up from 17.5% in December)*
19.8% of purchases were by Move-Up Buyers (down from 29.9%)
13.2% buying Revenue/Investment Property (up from 9.3%)*
11.6% purchasing Recreation Property (similar to December)
10.7% moving from Single Family to Strata (up from 5.2%) *
3.3% moving from Strata to Single Family (down from 4.1%) 
2.5% moving into Retirement/Seniors Community (down from 3.1%)

* During the month of January, there was a substantial increase in purchases by First Time Buyers, and Single Family Homeowners moving to Strata Unit,  and in the sales of Revenue/Investment Properties compared to December, while sales in other categories declined.

Buyer Type (Family Dynamic):
32.2% Two Parent Family/Children (up from 29% in December) **
25.6% Couple without Children (up from 20%) **
19.8% Empty Nesters/Retired (down from 21%) 
10.7% Single Female (down from 15%) 
9.9% Single Male (down from 13%) 
2.5% Single Parent with Children (down from 4%)

** In January, there was an increase in purchases by Two Parent Families with Children, and Couples without Children compared to December, while other categories saw decreases.

Moving From: 
61.5% from Within OMREB Board Area (down from 68.7% in December)
14.8% from Lower Mainland/Vancouver Island (up from 7.1%) ***
11.5% from Alberta (up from 9%) ***
4.1% from Other Areas in BC (same as December)
4.1% from Eastern Canada/Maritimes (same as December)
2.5% from Saskatchewan/Manitoba (up from 2%) ***
1.6% from Outside Canada (down from 3%)
0% from NWT/Yukon (down from 2% -- 16th month reported)

*** Compared to December, there was more migration from the Lower Mainland/Vancouver Island, Alberta and Saskatchewan/Manitoba in January, but less movement from within the Board area, from NWT/Yukon, and from overseas.