Kelowna Real Estate Market News

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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The latest Buyers Survey Results have now been published for the Kelowna Real Estate Market and Central Okanagan Area for April 2019.


Points of interest this month -:


- 61.37% of Buyers were local compared to 56.2% in April 2018.

- 15.07% of Buyers came from the Lower Mainland compared to 20.2% April 2018 - highlighting the effects of the dip in their Real Estate Markets.

- 9.59% of Buyers came from Alberta, which was up from 9.1% last year.


Here is the full summary below.


Overview Property Type:


23.48% First Time Purchase (down from 24.00% in March)

19.61% Move Up Purchase (up from 19.11%)

16.85% Relocating to Similar Property Type (up from 15.56%)

8.29% Revenue/Investment (up from 8.00%)

15.75% Downsizing (up from 14.67%)

5.52% Moving from Single-family Home to Strata Unit (up from 4.89%)

2.76% Moving from Strata Property to Single Family Home (up from 2.67%)

5.25% Recreational Property (up from 4.89%)

2.49% Retirement Home/Seniors Community (up from 0.89%)


Buyer Type (Family Dynamic):...

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First-time Buyers were busier in the Market last month, as were move up Buyers, taking advantage of some of the softer prices we are seeing in the Kelowna and Central Okanagan Real Estate Markets.


There were less local Buyers moving, and to be expected fewer Buyers from the Lower Mainland, but interestingly more Buyers from Alberta.


To read the full Okanagan Mainline Real Estate Buyers Survey Results - see the details below -:


Property Type:


24.00% First Time Purchase (up from 18.13% in January)
19.11% Move Up Purchase (up from 16.58%)
15.56% Relocating to Similar Property Type (down from 18.65%)
8.00% Revenue/Investment (down from 11.92%)
14.67% Downsizing (up from 12.95%)
4.89% Moving from Single-family Home to Strata Unit (down from 8.29%)
2.67% Moving from Strata Property to Single Family Home (down from 4.66%)
4.89% Recreational Property (down from 6.22%)
0.89% Retirement Home/Seniors Community (down from 2.07%)


Buyer Type (Family Dynamic):


27.19% Two Parent family/children (up from 22.40%...

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Property Type:


18.13% First Time Purchase (up from 16.87% in January)

16.58% Move Up Purchase (down from 19.28%)

18.65% Relocating to Similar Property Type (up from 18.07%)

11.92% Revenue/Investment (up from 10.84%)

12.95% Downsizing (down from 16.27%)

  8.29% Moving from Single family Home to Strata Unit (up from 4.82%)

  4.66% Moving from Strata Property to Single Family Home (up from 2.41%)

  6.22% Recreational Property (down from 7.83%)

  2.07% Retirement Home/Seniors Community (down from 3.61%)


Buyer Type (Family Dynamic):


22.40% Two Parent family/children (down from 30.30% in January)

25.00% Couple without children (up from 23.64%)

18.75% Empty nesters or retired (down from 23.03%)

16.15% Single female (up from 12.12%)

  9.90% Single male (down from 10.30%)

  3.13% Single parent with children (up from 2.42%)


Moving From:


62.89% From within Board area (down from 63.86% in January)

16.49% From Lower Mainland/Island (up from 12.65%)

  7.22% From other...

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The January 2019 Kelowna and Central Okanagan Real Estate Buyers Survey Results have now by produced, courtesy of our local Real Estate Board - OMREB.


One of the main highlights to note this month is the fall in Buyers coming from the Lower Mainland and Vancouver area, where their own Real Estate Markets have been slow this winter.


Property Type:


16.87%  First Time Purchase (down from 19.88% in December)

19.28%  Move Up Purchase (up from 14.91%)

18.07%  Relocating to Similar Property Type (down from 21.12%) 

10.84%  Revenue/Investment (down from 15.53%)

16.27%  Downsizing (up from 8.70%)

4.82%    Moving from Single-family Home to Strata Unit (down from 4.97%)

2.41%    Moving from Strata Property to Single Family Home (down from 2.48%)

7.83%    Recreational Property (down from 8.70%)

3.61%    Retirement Home/Seniors Community (up from 1.86%)


Buyer Type (Family Dynamic):


30.30%  Two Parent family/children...

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