Interesting Changes in Who Bought What in July Compared to June!
Just released from the Okanagan Mainline Real Estate Board:
JULY SURVEY SUMMARY
22.8% of purchases were by Move-Up Buyers
19.9% by First Time Buyers
13.1% moving from Single Family Home to Strata Unit
10.7% buying Revenue/Investment Property (up from 6% in June)*
9.7% purchasing Recreation Property (up from 7.6% in June)*
4.4% moving from Strata property to Single Family Home
3.9% moving into Retirement Home/Seniors Community
* During the month of July there was a significant jump in sales to Buyers of Revenue/Investment Property (10.7% compared to 6%) and Recreation Property (9.7% compared to 7.6%) over June.
Buyer Type (Family Dynamic):
26.4% Two Parent Family/Children
24.5% Empty Nesters/Retired (up from 16.7% in June)**
19.9% Couple without Children
16.7% Single Female (up from 13.5% in June)**
10.2% Single Male
4.6% Single Parent with Children
** In July, there was a significant increase in purchases by Empty Nesters (24.5% compared to 16.7%) and Single Females (16.7% compared to 13.5%) over June.
47.2% from Within OMREB Board Area
19.4% from Alberta (up from 13% in June)***
13.4% from Lower Mainland/Vancouver Island
9.7% from Other Areas in BC
4.6% from Eastern Canada/Maritimes (up from 2.1% in June)***
2.3% from Saskatchewan/Manitoba
1.9% from Outside Canada
1.4% from NWT/Yukon (11th month reported – up from 0% in June)***
*** Compared to June, there was more migration from Alberta (19.4% of purchases compared to 13%), Eastern Canada and the Maritimes (4.6% compared to 2.1%), and from the North West Territories and Yukon (1.4% compared to 0%) during the current reporting month (July).
If you or anyone you know is looking for real estate services, I'd love to help.
Brell - Your Okanagan Real Estate Umbrella 250-308-4310
Brenda Ellis REALTOR®
Sutton Group - Lakefront Realty
2749 30 Street, Vernon, BC, V1T 5C6
A growing team, a different approach...we are better together!
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