Thursday, 20 October 2011

Kelowna Real Estate - OMREB September 2011 Buyers Survey Results

Hi Everyone,

The results of OMREB's September 2011 Buyers Survey are in!

It is interesting to see that 'move up' Buyers arerepresenting the largest part of the market at the present time, followed by 'first time' buyers. This indicates that they are continuing to take advantage of the lower prices we are seeing in the Kelowna area and lower interest rates.

A total of 187 respondents participated in this survey – representing 52% of the 362 OMREB sales representatives who acted as Buyers Agents and 39% of the 483 deals closed on behalf of Buyers in August.

Property Type:
21.3% of purchases were by Move-Up Buyers
18.6% by First Time Buyers
13.1% moving from Single Family Home to Strata Unit
11.5% buying Revenue/Investment Property
10.5% Recreation Property Buyers
4.9% moving into Retirement Home/Seniors Community
3.8% moving from Strata property to Single Family Home

Moving From:
50.3% from Within OMREB Board Area
18.9% from Alberta
13.0% from Lower Mainland/Vancouver Island
8.1% from Other Areas in BC
4.3% from Eastern Canada/Maritimes
2.7% from Saskatchewan/Manitoba
2.2% from Outside Canada
0.5% from NWT/Yukon (first month reported)

Kind Regards

Trish Cenci

Cell 250 864 1707

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