Kelowna Real Estate Market News

The latest Buyers Survey Results are now available for the Kelowna and Central Okanagan Real Estate Market for June 2019.


There were fewer people 'moving up', more people purchasing similar properties, fewer people downsizing and more people moving into Retirement Communities.


Local buyers were a little more active, Lower Mainland Buyers Slightly less and Alberta Buyers slightly higher.


Here is the full summary below.


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


First Time Buyer – 18.95%

Revenue Property Investor – 10.46%

Moving Up – 14.71%

Similar Property Type – 21.24%

Downsizing – 15.69%

Single-family Residential to Strata – 5.23%

Recreational Property – 5.88%

Retirement Community – 4.58%

Strata to Single Family – 3.59%


Describe the Buyer (family dynamic):


Couple without children – 22.22%

Two Parent family/children – 28.43%

Empty nesters or retired – 25.49%

Single female – 10.78%

Single...

Read full post

Kelowna & Central Okanagan Real Estate Sales June 2019.


 


Date


Total

Single Family


Strata


Lots


Manuf

  Jun 19 465 244 182 14 25
  May 19 530 265 221 19 25
 

Apr 19

435 222 180 11 22
 

Mar 19

354 153 169 10 22
  Jun 18 509 265 195 27 22

Last month-:

- Total Sales were down 12.3% last month.

- Single-Family Homes sales down 7.9%

- Strata sales down 17.6%.


When we compare the numbers to last years:

Compared to last year -

- Overall sales were down 8.6%

- Single-Family Home sales down 7.9%

- Strata sales were down 6.6%.


June is traditionally a busier month for Real Estate sales in Kelowna and the Central Okanagan, but this year it was one of the quietest for many years. 


That being said, I had two new listings, one a +55  Condo in a popular Lower Mission location and one in a great Family Home neighborhood in West Kelowna, 1 received an offer the first day and the other in less than 14 days.


This tells me that there is still strong demand in certain...

Read full post
Blogs
Posts By Date
Categories
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.