The latest Kelowna Real Estate Buyers Survey Results are now out, for December 2020.

Move up buyers were much busier in the market during the last month and fewer Recreational Properties were purchased.

Unsurprisingly, due to the time of year and an increase in Covid-19 restrictions, there were a higher proportion of local Buyers busy in the market.

Here is the full report.

Best describe your most recent Buyer (moving to/from property type)

First Time Buyer – 15.61% (18.43%)

Revenue Property Investor – 14.97% (14.09%)

Moving Up – 24.20% (18.16%)

Similar Property Type – 15.92% (14.09%)

Downsizing – 12.74% (12.47%)

Single-family Res to Strata – 2.55% (4.88%)

Recreational Property –  6.69% (12.20%)

Retirement Community – 1.27% (1.63%)

Strata to Single Family – 2.87% (4.88%)

Describe the Buyer (family dynamic):

Couple without children – 25.14% (25.14%)

Two-Parent Family/children – 31.35% (31.35%)

Empty nesters or retired...

The British Columbia Real Estate Association (BCREA) report published January 13, 2021 reports that a total of 93,953 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2020, an increase of 21.5 per cent from the 77,350 units sold in 2019.

The annual average MLS® residential price in BC was $782,027, an 11.7 per cent increase from $700,369 recorded the previous year. Total sales dollar volume was $73.5 billion, a 35.6 per cent increase from 2019. “Housing markets across the province staged a remarkable recovery during the COVID-19 pandemic and recession,” said BCREA Chief Economist Brendon Ogmundson. “We expect considerable momentum heading into 2021.”

A total of 8,268 MLS® residential unit sales were recorded across the province in December, a record for the month and up 57.8 per cent from December 2019. The average MLS® residential price in BC was $847,600, an increase of 12.5 per cent from December 2019. Total sales...

This report details the market performance of Real Estate in Quail Ridge & the University District of Kelowna during the last 12 months, based on MLS® listings & sales.

There are details for each sector i..e. Single Family Homes, Condos & Townhomes together with my forecast for 2021.

Quail Ridge / University District Real Estate

January 1, 2020, to December 31, 2020.

Sales Numbers

Highlight Summary for 12 Months Jan - Dec 2020 compared to 2019.

- Total MLS® Sales up 20.7%.

- 47.8% increase Single Family Homes sales.

- 6.5% fall in Condos sales.

- 69% increase in Townhome Sales. 

Homes - we saw sales in all price ranges, and numbers were bolstered as we started to see some re-sales in University Heights.

Town Home - sales in the new Academy Ridge Town Home complex resulted in a significant rise...

Welcome to 2021 & a Happy New Year to everyone!

With our  'social distanced' Christmas this year, we learnt to savour the Zoom Calls, Facetime and Messenger calls with friends and family instead.

Lack of inventory, certainly played a part in the lower number of sales last month, in the Kelowna Real Estate market and highlighted the importance of 'being ready' if the right home came along.

Kelowna & Central Okanagan Real Estate Sales December 2020.

As usual for this time of year, sales numbers were down compared to November, but as you can see were again up significantly on December 2019.

While the pent-up demand we saw in the summer is not there, we are still seeing strong demand and very little product.

Compared to the last month-:

- Total Sales were down 27.3% last month.

- Single-Family Homes sales down 29.5%.

- Strata sales down 27.1%.

Compared to last year sales numbers were up again.

- Overall sales were up 76.4%

- Single-Family Home sales up 71.9%.

- Strata...

The latest Kelowna Real Estate Buyers Survey Results are now out, for November 2020.

First-Time Buyers and Revenue Investors were busier in the market this last month.

There were more 2 Parent Families Buying, and the Market in Kelowna / West Kelowna was busier, with Vernon area being less busy.

Here is the full report.

Best describe your most recent Buyer (moving to/from property type)

First Time Buyer – 18.43% (13.98%)

Revenue Property Investor – 14.09% (10.38%)

Moving Up – 18.16% (22.03%)

Similar Property Type – 14.09% (20.34 %)

Downsizing – 12.47% 14.41%)

Single-family Res to Strata – 4.88% 5.30%)

Recreational Property –  12.20% (8.05%)

Retirement Community – 1.63% (0.42%)

Strata to Single Family – 4.88% (2.54%)

Describe the Buyer (family dynamic):

Couple without children – 25.14% (23.54%)

Two-Parent Family/children – 31.35% (25%)

Empty nesters or retired – 17.3% (24.79%)

Single female – 11.89%...

The British Columbia Real Estate Association (BCREA) reports that a total of 9,416 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2020, an increase of 42.1 per cent from November 2019.

The average MLS® residential price in BC set a record of $816,074, a 9.3 per cent increase from $746,310 recorded the previous year. Total sales dollar volume in August was $7.68 billion, a 55.4 per cent increase over 2019. “Home sales were once again unseasonably strong in November with several markets setting records for the month,” said BCREA Chief Economist Brendon Ogmundson. “While demand continues to be strong, the supply of listings has reached near-record lows in several parts of the province, with prices rising sharply as a result.”

Active listings were down close to 14 per cent year-over-year in November, which contributed to a 34.8 per cent sales-to-active-listings ratio. Consequently, the provincial average price rose...