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January 2013 - Okanagan Real Estate Statistics

Blog by | February 26th, 2013

Property Type:
24.8% by First Time Buyers (up from 17.5% in December)*
19.8% of purchases were by Move-Up Buyers (down from 29.9% in December)
13.2% buying Revenue/Investment Property (up from 9.3% in December)*
11.6% purchasing Recreation Property (similar to December's 11.3%)
10.7% moving from Single Family Home to Strata Unit (up from 5.2% in December) *
3.3% moving from Strata property to Single Family Home (down from 4.1% in December)
2.5% moving into Retirement Home/Seniors Community (down from 3.1% in December)

* During the month of January, there was a substantial increase in purchases by First Time Buyers, and Single Family Homeowners moving to Strata Unit, and in the sales of Revenue/Investment Properties compared to December, while sales in other categories declined.

Buyer Type (Family Dynamic):
32.2% Two Parent Family/Children (up from 29% in December) **
25.6% Couple without Children (up from 20% in December) **
19.8% Empty Nesters/Retired (down from 21% in December)
10.7% Single Female (down from 15% in December)
9.9% Single Male (down from 13% in December)
2.5% Single Parent with Children (down from 4% in December)
** In January, there was an increase in purchases by Two Parent Families with Children, and Couples without Children compared to December, while other categories saw decreases.
Moving From:
61.5% from Within OMREB Board Area (down from 68.7% in December)
14.8% from Lower Mainland/Vancouver Island (up from 7.1% in December) ***
11.5% from Alberta (up from 9% in December)***
4.1% from Other Areas in BC (same as December)
4.1% from Eastern Canada/Maritimes (same as December)
2.5% from Saskatchewan/Manitoba (up from 2% in December) ***
1.6% from Outside Canada (down from 3% in December)
0% from NWT/Yukon (down from 2% in December -- 16th month reported)

*** Compared to December, there was more migration from the Lower Mainland/Vancouver Island, Alberta and Saskatchewan/Manitoba in January, but less movement from within the Board area, from NWT/Yukon, and from overseas.

Click here for more information:

Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.2792