Kelowna Real Estate Market News

January 2019 Kelowna Real Estate Buyers Survey Results

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 (up from 29.63% in December)

23.64%  Couple without children (up from 22.84%)

23.03%  Empty nesters or retired (up from 16.05%)

12.12%  Single female (down from 12.35%)

10.30%  Single male (down from 10.47%) 2.42%   

Single parent with children (down from 4.94%)

Moving From:

63.86%  From within Board area (up from 60.61% in December)

12.65%  From Lower Mainland/Island (up from 22.42%)

7.83%    From other Areas BC (up from 6.67%)

6.63%    From Alberta (up from 5.45%)

1.81%    From outside Canada (up from 1.21%)

4.22%    From E Canada/Maritimes (up from 1.21%)

2.41%    From Sask./Manitoba (up from 1.82%)

0.60%    From the NWT/Yukon (down from 0.61%)

Kind Regards

Trish Cenci

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