Kelowna Real Estate Market News

In the Kelowna Real Estate Buyers Survey results for February 2020, it seems that more Couple without Children and Empty Nesters were busier buying, and this potentially goes to explain why there were more cash buyers.


There were fewer buyers from local Markets but more from the Lower Mainland and more deciding to buy in the Vernon area.


Here are the full results -:


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


First Time Buyer – 20.63% (22.09%) 

Revenue Property Investor – 9.52% (12.27%)

Moving Up – 17.46% (16.56%)

Similar Property Type – 19.58 (19.63%)

Downsizing – 14.29% (13.50%)

Single-family Res to Strata – 5.29% (6.13%)

Recreational Property – 4.76% (6.75%)

Retirement Community-1.06% (3.68%)

Strata to Single Family – 3.70% (1.23%)


Describe the Buyer (family dynamic):

Couple without children – 25.40% (23.93%)

Two-Parent Family /children – 24.87% (28.22%)

Empty nesters or retired – 17.46% (13.50%)...

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The January 2020 Buyers Survey Results are now posted for the Kelowna Real Estate Market and Central Okanagan area.


First Time Buyers and Couples without Children were some of the busiest Buyers last month. Buyers purchasing similar Properties were also busier in the market.


There were a few more Buyers from Alberta, and a few less from the Lower Mainland, and activity in Vernon, was also down last month.


To read the full report, please see below.



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


First Time Buyer – 22.09% (20.88%)

Revenue Property Investor – 12.27% (13.19%)

Moving Up – 16.56% (21.43%)

Similar Property Type – 19.63% (13.19%)

Downsizing – 13.50% (10.44%)

Single-family Res to Strata – 6.13% (2.75%)

Recreational Property – 6.75% (7.14)

Retirement Community-3.68% (1.10%)

Strata to Single Family – 1.23% (2.75%)


Describe the Buyer (family dynamic):

Couple without children – 23.93% (19.23%)

Two-Parent Family...

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The December 2019 Buyers Survey Results are now posted for the Kelowna Real Estate Market and Central Okanagan area.


'Move up' property buyers were busier in our Real Estate Market during the last month and Vernon / Coldstream saw more Buyers.


Please find the full summary below.


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


First Time Buyer –  20.88% (22.18%) 

Revenue Property Investor – 13.19% (12.13%) 

Moving Up – 21.43% (17.99%)

Similar Property Type – 13.19% (14.23%)

Downsizing – 10.44% (13.81%)

Single Family Res to Strata – 2.75% (5.44%) 

Recreational Property – 7.14% (7.11%)

Retirement Community – 1.10% (0% ) 

Strata to Single Family – 2.75% (4.18%) 


Describe the Buyer (family dynamic):

Couple without children – 19,23% (25.10%) 

Two-Parent Family /children –  27.47% (28.87%)

Empty nesters or retired – 14.84% (24.27%)

Single female – 18.13% (7.53%)...

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The November 2019 Buyers Survey Results are now posted for the Kelowna Real Estate Market and Central Okanagan area.


First-time Buyers and Investors seemed to be busier again this month, and Empty Nesters / Retiree numbers were up.


Kelowna / West Kelowna area were nearly 9% busier this last month, whereas other areas in the Region have started to tail off as we head into Winter.


Please find the full summary below.


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


First Time Buyer –  22.18% (19.55%) 

Revenue Property Investor –  12.13% (9.29%) 

Moving Up – 17.99%  (20.51%)

Similar Property Type – 14.23% (16.67%)

Downsizing – 13.81% (13.46%)

Single Family Res to Strata – 5.44% (6.09%) 

Recreational Property – 7.11% (6.73%)

Retirement Community – 0% (1.60%) 

Strata to Single Family – 4.18% (3.53%) 


Describe the Buyer (family dynamic):

Couple...

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First-time Buyers, Revenue Investors and Move-Up Buyers were all busier this month. It will be interesting to see if that is an indicator that the effects of the Mortgage Stress Test are now easing.


Fewer local people bought last month - probably enjoying the summer holidays, whereas there were move Buyers from the Lower Mainland.


As far as areas go, Kelowna was a little busier, whereas fewer Buyers bought in the Vernon and Coldstream area.


Please find the full summary below.


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


First Time Buyer – 21.60% (18.29%)

Revenue Property Investor – 11.24% (13.27%)

Moving Up – 13.61% ( 16.81%)

Similar Property Type – 20.41% (16.81%)

Downsizing – 14.50% (15.04%)

Single family Res to Strata – 3.25% (5.01%)

Recreational Property – 7.69% (7.67%)

Retirement Community – 1.48% (0.59%)

Strata to Single Family – 3.25% ( 2.65%)



Describe the Buyer (family dynamic):


Couple without children ...

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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...

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