The Kelowna Real Estate Buyers Survey Results are now out for November 2021.
First Time Buyers were busier in the Market last month, however, I am not surprised to see fewer Empty Nester / Retired Buyers downsizing, as the number of listing for sale in the sector has been acutely low.
With travel being more difficult from the Lower Mainland, due to the closed roads, Local Buyers were more prevalent and Lower Mainland Buyer numbers were down last month.
There were a similar number of Buyers in the Kelowna area, and fewer Buyers in Penticton & Princeton/Keremeos, with more Buyers in the Oliver, Vernon and Salmon Arm areas.
Here is the full report below.
Best describe your most recent Buyer (moving to/from property type)
First Time Buyer – 20.47% (13.51%)
Revenue Property Investor – 13.47% (13.02%)
Moving Up – 17.10% (16.95%)
Similar Property Type – 18.65% (19.90%)
Downsizing – 10.88% (13.51%)
Single-family Res to Strata – 6.48% (6.39%)