Did you know “Empty Nesters/Retired” Buyers make up 18-20% of real estate market in the Okanagan/Shuswap? However, more than 50% of the Buyers are two parent or single parent families with children.

OCTOBER SURVEY SUMMARY

Property Type:

21.5% by Relocating and moving to similar property type (up from 17.6% in September)
18.2% buying Revenue/Investment Property (down from 20.2%)
15.5% by First Time Buyers (up from 15.3%)
13.9% by Move-Up Buyers (up from 13.7%)
11.5% by Buyers Downsizing (down from 15.3%)
7.6% buying Recreation Property (up from 6.9%)
5.2% moving from Single Family Home to Strata Unit (up from 4.6%)
3.6% moving from Strata Property to Single Family Home (down from 4.2%)
2.7% moving into Retirement Home/Seniors Community (up from 1.2%)

Buyer Type (Family Dynamic):

28.8% Two Parent Family/Children (up from 25.9% in September)
23.3% Couple without Children (down from 26.6%)
18.5% Empty Nester/Retired (down from 21.7%)
13.3% Single Female (up from 10.7%)
10.9% Single Male (up from 10.3%)
4.2% Single Parent with Children (up from 3.4%)

Moving From:

56.3% from Within OMREB Board Area (up from 52.3% in September)
16.6% from Lower Mainland/Vancouver Island (down from 19.1%)
13.6% from Alberta (down from 13.7%)
6.0% from Other Areas in BC (down from 7.6%)
3.3% from Eastern Canada/Maritimes (up from 3.1%)
2.1% from Saskatchewan/Manitoba (down from 2.7%)
2.1% from Outside Canada (up from 1.2%)
0.0% from NWT/Yukon (down from 0.4%)

Source: Okanagan Mainline Real Estate Board Buyers Survey, October 2017.