Kelowna Real Estate Market News

The latest Association of Interior Realtors Buyer Survey Results for June 2022 are now out.


Move-up Buyers were well down last month, which may be the first signs of the Mortgage interest rate rises having an effect on the Real Estate Market.


They were slightly fewer buyers from my local area and also if you are from the Lower Mainland, who had previously been Buying in bigger numbers in our Market.


The North Okanagan / Vernon area took a bigger percentage of Buyers last month.


Here are the full results.


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


First Time Buyer – 16.85% (15.94%)

Revenue Property Investor – 11.80% (12.88%)

Moving Up – 10.67% (19.21% )

Similar Property Type – 22.75% (19.00%)

Downsizing – 16.01% (15.72%)

Single-family Res to Strata – 5.62% (4.80%)

Recreational Property – 8.43% (8.08%)

Retirement Community – 2.25% (1.75%)

Strata to Single Family – 2.53% (1.97%)


Describe the Buyer (family dynamic):...

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The latest Association of Interior Realtors Buyer Survey Results for May 2022 are now out.

First-Time Buyers were less busy in the market last month, so this will be one to watch, as this could be an indicator that higher interest rates are beginning to affect their purchasing power.

Move-up buyers were busier, which could also be a sign that they are trying to move before rates rise further.

Interestingly, there was also a reduction in people moving from the lower Mainland, which could be due to homes taking longer to sell there now and the general 'softening' of the market there.

Couples without Children and Empty Nesters were also busier in the market.

Here are the full results.


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


First Time Buyer – 15.94% (18.24%)

Revenue Property Investor – 12.88% (13.19%)

Moving Up – 19.21% (14.95%)

Similar Property Type – 19.00% (19.78%)

Downsizing – 15.72% (17.14%)

Single-family Res to Strata – 4.80%...

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The latest Association of Interior Realtors Buyer Survey Results for April 2022 are now out.


First-Time and Investor Buyers were busier again last month, with Lower Mainland Buyers still remaining active.


Here are the full results.


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


First Time Buyer – 18.24%

Revenue Property Investor – 13.19%

Moving Up – 14.95%

Similar Property Type – 19.78%

Downsizing – 17.14%

Single family Res to Strata – 4.40%

Recreational Property – 6.59%

Retirement Community – 1.32%

Strata to Single Family – 2.86%


Describe the Buyer (family dynamic):


Couple without children – 21.59%

Two Parent family/children – 25.99%

Empty nesters or retired – 19.82%

Single female – 12.56%

Single male – 13.88%

Single parent with children – 2.20%


Where did Buyer move from?


From within Association area – 54.80%

From Lower Mainland/Island – 25.11%

From Alberta –...

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The Kelowna Real Estate Buyers Survey Results are now out for February 2022.


First-Time Buyers were busier again last month, with more Buyers coming from the Lower Mainland/ Vancouver Island than the previous month, and more Buyers purchasing in the Kelowna / West Kelowna Area.


Here is the full report below.


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


First Time Buyer – 17.28% (14.57%)

Revenue Property Investor – 18.98% (21.05%)

Moving Up – 11.9% (19.03%)

Similar Property Type – 18.98% (19.03%)

Downsizing – 13.03% (19.53%)

Single-family Res to Strata – 5.10% (3.24%)

Recreational Property – 7.37% (6.88%)

Retirement Community – 7.37% (0.40%

Strata to Single Family – 2.27% (2.02%)


Describe the Buyer (family dynamic):


Couple without children – 21.02% (24.21%)

Two Parent family /children – 29.26% (26.59%)

Empty nesters or retired – 21.31% (19.44%)

Single female – 11.36% (8.73%)

Single male...

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The Kelowna Real Estate Buyers Survey Results are now out for December 2021.


First-time, Investor and Downsizing Buyers were busier in the Market last month, with Two-Parent Families being the busiest Family dynamic.


Buyers from the Lower Mainland were busier again last month, as were buyers from other areas of BC, and more purchased properties in Kelowna & the Central Okanagan.


Here is the full report below.


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


First Time Buyer – 21.29% (20.47%)

Revenue Property Investor – 15.26% (13.47%)

Moving Up – 16.06% (17.10%)

Similar Property Type – 18.88% (18.65%)

Downsizing – 11.65% (10.88%)

Single-family Res to Strata – 5.62% (6.48%)

Recreational Property – 5.62% (7.25%)

Retirement Community – 2.41% (0.78%)

Strata to Single Family – 2.41% (1.81%)


Describe the Buyer (family dynamic):


Couple without children – 22.98% (23.02%)

Two Parent family /children – 29.44%...

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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%)

Recreational...

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