The latest Kelowna Real Estate Buyers Survey Results are now out, for January 2021.

First Time Buyers & those moving to similar properties were busier this month, & there was a reduction in move-up Buyers.

Fewer families purchased, and fewer local Buyers were in the market, but more empty-nesters / retired people bought & more from the Lower Mainland and Alberta. 

There was also a significant fall in those buying in the Kelowna area, I suspect due to lack of inventory,

Here is the full report.

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

First Time Buyer – 17.67% (15.61%)

Revenue Property Investor – 14.67% (14.97%)

Moving Up – 16.33% (24.20%)

Similar Property Type – 18.00% (15.92%)

Downsizing – 12.67% (12.74%)

Single-family Res to Strata – 3.33% (2.55%)

Recreational Property –  11.33% (6.69%)

Retirement Community – 1.00% (1.27%)

Strata to Single Family – 0.67% (2.87%)

Describe the Buyer (family dynamic):

Couple without children – 18.81% (25.14%)

Two-Parent Family/children – 27.06% (31.35%)

Empty nesters or retired – 19.47% (17.89%)

Single female – 13.20% (7.99%)

Single male – 17.16% (11.82%)

Single parent with children – 1.98% (3.83%)

Where did Buyer move from?

From within Board area – 56.95% (63.49%)

From Lower Mainland/Island – 18.54% (15.56%)

From Alberta – 10.26% (8.57%)

From other Areas BC – 6.95% (5.40%)

From E Canada/Maritimes – 4.30% (4.13%)

From Sask./Manitoba – 2.32% (1.59%)

From outside Canada – 0.33% (0.95%)

From the NWT/Yukon – 0.33% (0.32%)

In what area was the property purchased?

Kelowna/West Kelowna – 40.73% (55.06%)

Vernon/Coldstream – 15.89% (16.77%)

Central Ok (outside K/WK) –  4.97% (7.91%)

Salmon Arm – 5.30% (4.43%)

North Ok (outside V/CS) – 7.95%( 8.86%)

Shuswap/Rev (outside SA) – 4.97% (6.96%) 

Oliver/Osoyoos – 5.30%

Kind Regards

Trish Cenci

Kelowna Real Estate Agent