Real Estate Statistics
September 2019 BC Real Estate Update
"Markets across BC built on momentum from the summer. While the year-over-year increase in provincial sales was quite strong, home sales in most areas are simply returning to historically average levels." - Brendon Ogmundson BCREA Chief Economist.
The average residential price in the province was $697,943 = an increase of 2.1% over the same time last year.
Total sales dollar amount was $4.84 billion = an increase of 26.5% over last September
Read the full news release here
BC HOME SALES TREND LOWER IN JUNE
“BC home sales moderated lower in June after a stronger showing in May,” said BCREA Deputy Chief Economist Brendon Ogmundson. “While mortgage rates offered by lenders have moved below 3 per cent, a static qualifying rate has limited the impact of the lower cost of borrowing.”
Read the full June 2019 BCREA News Release HERE
Strong Economy Supports Robust Housing Demand
Read the BCREA Real Estate Housing Forecast Update Here.
Who is Buying Homes in the Okanagan-Shuswap?
Kelowna, BC – Ever wonder where home buyers come from? Since September 2010, the Okanagan Mainline Real Estate Board (OMREB) has been collecting information from our members with regards to where our buyers are coming from – both geographically and demographically. The purpose of collecting this data is to add another element to our market knowledge and a better understanding of current trends. The longer record, the more insight the Board will have. Results of OMREB’s Board-wide monthly Buyers Survey indicate that serious buyers are taking advantage of the current market and leveraging their positive purchasing power while it lasts.
Buyer profiles gathered through each monthly survey include property type, family dynamic, financing, and areas moving from and to. 2017: First Quarter Year-to-Date (January to March), Move-up Buyers have accounted for 17.07% of the purchasers while First-Time Buyers comprised 20.7%. Home Buyers have been coming from:
• Within the OMREB Board area (57.97%)
• Lower Mainland/Vancouver Island (16.93%)
• Alberta (9.97%) • Other Areas of BC (5.9%)
• Eastern Canada/Maritimes (3.77%)
• Saskatchewan/Manitoba (2.67%)
• Outside Canada (2.67%)
• North West Territories/Yukon* (0.10%)