Where Are Buyers Coming From
Kelowna real estate board (OMREB) surveys its members the Realtors of the Okanagan Mainland to find out who is buying real estate here in Kelowna and where they are coming from. The results are as you would probably expect and October was no different.
Buyers Moving From:
55% from within the board area. (locals buying and selling from locals)
18.5% from Alberta (down a bit from 21.5% last month. Rogers Pass must have snow)
9.7% from Lower Mainland.
8.8% other areas of BC
Digest this for a moment or two. That’s a lot of Alberta buyers moving West across the mountains.1 in 5 home sales are a direct result of an Alberta buyer. I wish we had monthly stats telling us how many locals are selling here and buying in Alberta because I imagine the number would be high and would put things in context. All I have is anecdotal evidence but like most communities in every one of Canada’s provinces, we lose a lot of young people who leave to find meaningful employment in Alberta. We’re lucky in Kelowna though because a lot move this way also. No wonder there are so many daily direct flights to and from our airport to Alberta. Kelowna’s population is expected to continue to rise and in-migration is the reason.
Are you thinking of buying a home in Kelowna ask for a comparable anaylsis on the home you are considering, it will help you decide on a price to offer.
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