Kelowna Real Estate Market News

There were fewer Revenue Property Buyers last month, but more buying similar properties and downsizing.


Local buyers continued to be busy in the MArket as well as Buyers from the Lower Mainland and Vancouver Island.


Please read the full report below.


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


First Time Buyer – 16.21% (16.67%)

Revenue Property Investor – 14.40% (18.99%)

Moving Up – 16.60% (16.46%)

Similar Property Type – 19.46% (14.35%)

Downsizing – 13.23% (10.97%)

Single-family Res to Strata – 4.41% (6.96%)

Recreational Property – 8.43% (9.28%)

Retirement Community – 1.56% (0.63%)

Strata to Single Family – 2.72% (2.74%)


Describe the Buyer (family dynamic):


Couple without children – 23.82% (24.79%)

Two Parent family /children – 27.27% (29.41%)
Empty nesters or retired – 20.10% (19.54%)
Single female – 12.42% (10.71%)
Single male – 11.52% (10.50%)
Single parent with children – 3.20%...

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Revenue Property Investors were busier in the Market during the last month, as were Couples without Children.


We saw an increase in Buyers from the Lower Mainland and Vancouver Island & a few more Buyers Buying in the Kelowna / West Kelowna areas and Shuswap / Revelstoke areas.


Please read the full report below.


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


First Time Buyer – 16.67%

Revenue Property Investor – 18.99%

\Moving Up – 16.46%

Similar Property Type – 14.35%

Downsizing – 10.97%

Single-family Res to Strata – 6.96%

Recreational Property – 9.28%

Retirement Community – 0.63%

Strata to Single Family – 2.74%


Describe the Buyer (family dynamic):


Couple without children – 24.79%
Two Parent family /children – 29.41%
Empty nesters or retired – 19.54%
Single female – 10.71%
Single male – 10.50%
Single parent with children – 3.57%


Where did Buyer move from?


From within Association...

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The latest Kelowna Real Estate Buyers Survey Results are now out, for January 2021.


First Time Buyers & those moving to similar properties were busier this month, & there was a reduction in move-up Buyers.


Fewer families purchased, and fewer local Buyers were in the market, but more empty-nesters / retired people bought & more from the Lower Mainland and Alberta. 


There was also a significant fall in those buying in the Kelowna area, I suspect due to lack of inventory,


Here is the full report.


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


First Time Buyer – 17.67% (15.61%)

Revenue Property Investor – 14.67% (14.97%)

Moving Up – 16.33% (24.20%)

Similar Property Type – 18.00% (15.92%)

Downsizing – 12.67% (12.74%)

Single-family Res to Strata – 3.33% (2.55%)

Recreational Property –  11.33% (6.69%)

Retirement Community – 1.00% (1.27%)

Strata to Single Family – 0.67% (2.87%)


Describe the Buyer (family...

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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...

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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%...

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


There were fewer First time Buyers last month, but more people 'moving up' and downsizing.


Here is the full report.


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


First Time Buyer – 13.98% (18.98% )

Revenue Property Investor – 10.38% (9.3%)

Moving Up – 22.03% (19.35%)

Similar Property Type – 20.34 % (18.98%)

Downsizing – 14.41% (10.25%)

Single family Res to Strata – 5.30% (4.55%)

Recreational Property –  8.05% (11.39%)

Retirement Community – 0.42% (2.85% )

Strata to Single Family – 2.54% (4.55%)

  


Describe the Buyer (family dynamic):


Couple without children – 23.54% (24.48%)

Two-Parent Family/children – 25% (28.44%)

Empty nesters or retired – 24.79% (19.77%)

Single female – 11.88% (13.56%)

Single male – 9.58% (10.73%)

Single parent with children – 2.92% (2.26%)



How did Buyer finance...

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