Who Purchased Real Estate in November?

Did you know 21.1% of Buyers purchasing real estate in the Okanagan/Shuswap region during the month of November were from Lower Mainland/Vancouver Island? And, only 8.5% of Buyers were from Alberta.

NOVEMBER BUYERS SURVEY

Home/Property Type:

21.3% by Relocating and moving to similar property type (down from 21.5% in October)
18.9% by First Time Buyers (up from 15.5%)
18.9% by Move-Up Buyers (up from 13.9%)
13.1% buying Revenue/Investment Property (down from 18.2%)
11.9% by Buyers Downsizing (up from 11.5%)
5.7% buying Recreation Property (down from 7.6%)
4.5% moving from Strata Property to Single Family Home (up from 3.6%)
4.1% moving from Single Family Home to Strata Unit (down from 5.2%)
0.4% moving into Retirement Home/Seniors Community (down from 2.7%)

Buyer Type (Family Dynamic):

29.1% Two Parent Family/Children (up from 28.8% in October)
25.8% Couple without Children (up from 23.3%)
16.8% Empty Nester/Retired (down from 18.5%)
11.5% Single Female (down from 13.3%)
9.8% Single Male (down from 10.9%)
5.3% Single Parent with Children (up from 4.2%)

Moving From:

54.1% from Within OMREB Board Area (down from 56.3% in October)
21.1% from Lower Mainland/Vancouver Island (up from 16.6%)
8.5% from Alberta (down from 13.6%)
7.7% from Other Areas in BC (up from 6.0%)
3.3% from Eastern Canada/Maritimes (no change from 3.3%)
2.9% from Outside Canada (up from 2.1%)
2.4% from Saskatchewan/Manitoba (up from 2.1%)
0.0% from NWT/Yukon (no change from 0.0%)

 

Chart Showing How Real Estate Buyers Financed their Purchase in November 2017

Source: Okanagan Mainline Real Estate Board – November Buyer Survey Results (12/21/2017)