It's a buyers market in the Okanagan! While it lasts whose buying?

 25.5% of the purchases were by Move Up Buyers

18.9% by First Time Buyers

13.3% Moving from Single Family to Home Strata unit

11.1% Buying Revenue/Investment Property

5.6% Moving from Strata to Single Family Home another

5.6% Recreation Property Buyers, and

2.2% Moving into Retirement Home/Seniors Community

Buyer family dynamic.....

25.8% of Buyers were Couples without Children another

25.8% were Empty Nesters or Retired

22.5% were Two Parent Families with Children

13.5% Single Males

6.7% Single Females, and another

6.7% were Single Parent Families with Children

How did the Buyer finance.....

45.3% financed via Conventional Mortgage (with more than 20% down)

37.2% paid by Cash, 16.3% by High Ratio Mortgage (less than 20% down), and

2.3% required Rental Income to Qualify for Financing;

Where did the Buyer move from.....

57.8% were from Within OMREB Board Area

13.3% from Alberta

8.9% from Other Areas in BC

6.7% from Lower Mainland/Vancouver Island

4.4% from Saskatchewan/Manitoba, another

4.4% from Manitoba/Maritimes, and

4.4% from Outside Canada

In what area was the property purchased.....

47.8% of purchases were in Kelowna/West Kelowna

14.4% in Vernon/Coldstream

12.2% in Shuswap/Revelstoke (other than Salmon Arm)

10% in North Okanagan (other than Vernon/Coldstream)

7.8% in Central Okanagan (other than Kelowna/West Kelowna), and another

7.8% in Salmon Arm. 

Overall March Buyer Survey results are similar to the 2011 Febuary Buyer Survey provided in my April 11th blog.  Percentages vary a little but  whose buying, what is being bought and where has not changed except March saw Alberta buyers superceding Lower Mainland buyers.  Nonetheless it's predominately local yocal buyers taking advantage of the Okanagan's buyers market!

Move, purchase, or investment in the air?