OMREB October Buyer Survey (Kelowna)


Property Type:

24.5% of purchases were by Move-Up Buyers*  (up from 22.4% as in September)*

17.5% by First Time Buyers  (down from 20.4%)

14.8% moving from Single Family Home to Strata Unit  (up from 12.5%)*

8.3% buying Revenue/Investment Property  (down from 8.6%)

7.9% buying Recreation Property  (down from 13.7%)

5.7% moving into Retirement Home/Seniors Community  (up from 3.9%)*

4.8% moving from Strata property to Single Family Home  (up from 3.5%)*

* During the month of October, there was an increase in purchases by move-up buyers, home owners downsizing to strata units and retirement communities, and  strata owners purchasing single family homes.   First-time buyers, and those purchasing revenue and recreation property saw a drop from the previous month.

Buyer Type (Family Dynamic):

26.2% Couple without Children (up from 19.9% in September)**

25.3% Two Parent Family/Children (same as September)**

17.3% Empty Nester/Retired (down from 26.8%)

14.3% Single Male (same as September)

10.1% Single Female (down from 10.7%)

5.1% Single Parent with Children (up from 3.2%)**

** There were more purchases by couples without children and single parents with children in October compared to last month.

Moving From:

59.2% from Within OMREB Board Area  (up from 46.9% in September)***

14.3% from Alberta (down from 21.7%)

8.0% from Lower Mainland/Vancouver Island  (down from 12.0%)

7.1% from Other Areas in BC  (down from 9.7%)

5.9% from Saskatchewan/Manitoba (up from 5.0%)***

2.5% from Eastern Canada/Maritimes (down from 3.1%)

2.5% from Outside Canada  (up from 1.6%)***

0.4% from NWT/Yukon (up from 0%)***

*** Compared to September,  there were more buyers moving from within the Board area, Saskatchewan and Manitoba, the NWT/Yukon, and outside Canada but less migration from Albert, and fewer purchasers from the Lower Mainland/Vancouver Island, and other areas of BC during October.


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