First Time Buyers were busier again this June in the Kelowna Real Estate Market.

Published 15 July 15 09:29 AM

Hi All,

The results of OMREB's JUNE 2015 Buyers Survey are now available!  A total of 290 respondents participated in this survey – representing 54% of the 537 OMREB sales representatives who acted as Buyers Agents, and 31% of the 937 deals closed on behalf of Buyers in June.

It seems like First Time Buyers were busier this month, with less move up Buyers. Interesting that 18% of our Buyers still came from Alberta last month, while 9.7% came from the Lower Mainland.

 

JUNE SURVEY SUMMARY

Property Type:

19.8% by Move-Up Buyers (down from 31.5% in May)

19.8% by First Time Buyers (up from 14.9%) *

19.4% by Buyers Downsizing (down from 20.3%)

11.3% buying Revenue/Investment Property (up from 9.5%) *

9.9% moving from Single Family Home to Strata Unit (similar to May’s 9.8%)

5.7% buying Recreation Property (down from 6.8%)

3.5% moving from Strata Property to Single Family Home (up from 2.7%) *

2.1% moving into Retirement Home/Seniors Community (similar to May’s 2.0%)

 

* During June, there were increases in purchases by first time buyers, and those who were investing in revenue properties or moving from strata properties to detached homes, compared to the previous month.

 

Buyer Type (Family Dynamic):

24.1% Empty Nester/Retired (down from 26.9% In May)

24.1% Two Parent Family/Children (down from 25.8%)

21.3% Couple without Children (up from 20.8%) **

15.7% Single Male (up from 10.7%) **

12.5% Single Female down from 13.4%)

4.2% Single Parent with Children (up from 3.0%) **

 

** There were more purchases by empty nesters/retirees, couples without children, and single males during June, while other buyer categories were down compared to May

 

Moving From:

55.5% from Within OMREB Board Area  (down from 55.7% in May)

18.0% from Alberta (up from 15.7%) ***

9.7% from Lower Mainland/Vancouver Island  (down from 10.7)

8.6% from Other Areas in BC (up from 8.4%) ***

5.2% from Eastern Canada/Maritimes (up from 4.0%) ***

2.8% from Saskatchewan/Manitoba (down from 3.7%)

0.7% from Outside Canada (similar to May’s 0.6%)

0% from NWT/Yukon (same as May) 

 

*** More buyers moved from other areas of BC, and migrated from Alberta, Eastern Canada and the Maritime provinces during June. 

Kind Regards

Trish and Tanis

Tel 250 868 2488 

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About Trish Cenci

Tanis Read has been helping Buyers and Sellers achieve all of their real estate needs throughout the Okanagan Valley for 10 years. Also active in organized real estate, serving as the President of the Okanagan Mainline Real Estate Board for the 2017/2018 term.