Kelowna Real Estate Market News

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


First-time Buyers were busier again this month, but there were few Buyers 'moving up'.


The numbers moving from the Lower Mainland were up last month, as were the number moving from Eastern Canada.


Here is the full report.


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


First Time Buyer – 18.98% (14.22%)

Revenue Property Investor – 9.3% (9.71%)

Moving Up – 19.35% (23.48%)

Similar Property Type – 18.98% (20.54%)

Downsizing – 10.25% (14.00%)

Single family Res to Strata – 4.55% (2.26%)

Recreational Property –  11.39% (11.06%)

Retirement Community – 2.85% (0.90%)

Strata to Single Family – 4.55% (2.03%)

  


Describe the Buyer (family dynamic):


Couple without children – 24.48% (25.23%)

Two Parent family/children – 28.44% (33.11%)

Empty nesters or retired – 19.77% (18.69%)

Single female – 13.56% (10.81%...

Read full post

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%)...

Read full post

The Kelowna Real Estate Buyers Survey results for March 2020, showed more move-up Buyers and Empty Nesters buying in our Central Okanagan Market.


Due to the travel restrictions that started to impact mid-March, it is not surprising to see local Buyer numbers up.


Here are the full results -:


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



First Time Buyer – 19.28% (20.63%) 

Revenue Property Investor – 7.63% (9.52%)

Moving Up – 21.69% (17.46%)

Similar Property Type – 18.47% (19.58%)

Downsizing – 16.87% (14.29%)

Single-family Res to Strata – 4.42?% (5.29%)

Recreational Property – 2.41% (4.76%)

Retirement Community-3.61% (1.06% )

Strata to Single Family – 4.02% (3.70%)


Describe the Buyer (family dynamic):

Couple without children – 25.6% (25.40%)

Two-Parent Family /children – 21.2% (24.87%)

Empty nesters or retired – 23.2% (17.46%)

Single female – 13.6% (11.64%)

Single male – 12.4% (11.64%)...

Read full post

In the Kelowna Real Estate Buyers Survey results for February 2020, it seems that more Couple without Children and Empty Nesters were busier buying, and this potentially goes to explain why there were more cash buyers.


There were fewer buyers from local Markets but more from the Lower Mainland and more deciding to buy in the Vernon area.


Here are the full results -:


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


First Time Buyer – 20.63% (22.09%) 

Revenue Property Investor – 9.52% (12.27%)

Moving Up – 17.46% (16.56%)

Similar Property Type – 19.58 (19.63%)

Downsizing – 14.29% (13.50%)

Single-family Res to Strata – 5.29% (6.13%)

Recreational Property – 4.76% (6.75%)

Retirement Community-1.06% (3.68%)

Strata to Single Family – 3.70% (1.23%)


Describe the Buyer (family dynamic):

Couple without children – 25.40% (23.93%)

Two-Parent Family /children – 24.87% (28.22%)

Empty nesters or retired – 17.46% (13.50%)...

Read full post

Despite the snow and some cold temperatures for the Okanagan during January, potential buyers of Kelowna Real Estate have been starting to look and the number of potential investors I have spoken to has been well up on last year.


Interestingly, a number are looking for AirBnB potential properties.


Overall, it has been a lower inventory that has been the biggest challenge, and as a result, we have seen stronger activity, particularly when more affordable homes list with suites and financing has still been a challenge, for some, and this is has been the cause of a number of offers collapsing.


This week BC Stats estimated the current population of Kelowna had increased to 142,000 from 133,000 in 2016 and is still rising, And we continue to see reports of the future growth of UBCO.


Kelowna & Central Okanagan Real Estate Sales January 2020.




Last month-:

- Total Sales were down 5.7% last month.

- Single-Family Homes sales down 2.1%

- Strata sales down 14.2%.


Compared to last year sales numbers...

Read full post

The December 2019 Buyers Survey Results are now posted for the Kelowna Real Estate Market and Central Okanagan area.


'Move up' property buyers were busier in our Real Estate Market during the last month and Vernon / Coldstream saw more Buyers.


Please find the full summary below.


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


First Time Buyer –  20.88% (22.18%) 

Revenue Property Investor – 13.19% (12.13%) 

Moving Up – 21.43% (17.99%)

Similar Property Type – 13.19% (14.23%)

Downsizing – 10.44% (13.81%)

Single Family Res to Strata – 2.75% (5.44%) 

Recreational Property – 7.14% (7.11%)

Retirement Community – 1.10% (0% ) 

Strata to Single Family – 2.75% (4.18%) 


Describe the Buyer (family dynamic):

Couple without children – 19,23% (25.10%) 

Two-Parent Family /children –  27.47% (28.87%)

Empty nesters or retired – 14.84% (24.27%)

Single female – 18.13% (7.53%)...

Read full post
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.