The latest Kelowna and Central Okanagan Real Estate Buyers Survey Results are now out for July 2020.

First-time buyers were less busy in the Market last month, while Investments and Recreational Property Buyers were busier.

There were also a lot more Buyers from the Lower Mainland and Vancouver Island.

Here are the full results -:

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

First Time Buyer – 15.10% (20.82%)

Revenue Property Investor – 8.92% (5.91%)

Moving Up – 21.28% (20.57%)

Similar Property Type – 21.74% (19.54%)

Downsizing – 11.44% (12.85%)

Single-family Res to Strata – 5.26% (5.66%)

Recreational Property – 8.47% (7.71%)

Retirement Community – 2.29% (1.80%)

Strata to Single Family – 3.2% (3.34%)

Describe the Buyer (family dynamic):

Couple without children – 25.28% (28.02%)

Two Parent family/children – 28.44% (27.76%)

Empty nesters or retired – 21.67% (17.99%)

Single female – 9.93% (14.65%)

Single male – 10.84% (8.48%)

Single parent with children – 2.48% (3.60%)

How did Buyer finance purchase?

Conventional (>20% down) – 55.10% (55.32%)

All cash – 28.57% (29.09%)

High ratio (< 20% down) – 15.87% (15.84%)

Rental income to qualify – 2.04% (0.52%)

Where did Buyer move from?

From within Board area – 58.01% (58.25%)

From Lower Mainland/Island – 18.74% (12.89%)

From Alberta – 11.06% (12.37%)

From other Areas BC – 7.45% (9.54%)

From E Canada/Maritimes – 2.03% (3.61%)

From Sask./Manitoba – 1.58% (1.55%)

From outside Canada – 1.13% (1.55%)

From the NWT/Yukon – 0% (0.26%)

In what area was the property purchased?

Kelowna/West Kelowna – 49.32% (47.56%)

Vernon/Coldstream – 17.57% (17.99%)

Central Ok (outside K/WK) – 8.33% (7.97%)

Salmon Arm – 6.53%  (9.25%)

North Ok (outside V/CS) – 7.66% (6.68%)

Shuswap/Rev (outside SA) – 10.59% (10.54%)

Kind Regards

Trish Cenci

Kelowna Real Estate Agent