Kelowna Real Estate Market News

Kelowna Real Estate Buyers Survey December 2019

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


First-time Buyers and Investors seemed to be busier again this month, and Empty Nesters / Retiree numbers were up.


Kelowna / West Kelowna area were nearly 9% busier this last month, whereas other areas in the Region have started to tail off as we head into Winter.


Please find the full summary below.


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


First Time Buyer –  22.18% (19.55%) 

Revenue Property Investor –  12.13% (9.29%) 

Moving Up – 17.99%  (20.51%)

Similar Property Type – 14.23% (16.67%)

Downsizing – 13.81% (13.46%)

Single Family Res to Strata – 5.44% (6.09%) 

Recreational Property – 7.11% (6.73%)

Retirement Community – 0% (1.60%) 

Strata to Single Family – 4.18% (3.53%) 


Describe the Buyer (family dynamic):

Couple without children – 25.10% (28.21%) 

Two-Parent Family /children –  28.87% (27.24%)

Empty nesters or retired – 24.27% (17.63%)

Single female – 7.53%  (11.86%)

Single male – 10.46% (11.86%)

A single parent with children – 4.18% (2.88%)


How did Buyer finance purchase?

Conventional (>20% down) –  60% (52.12%)

All cash – 25.96% (30.62%)

High ratio (< 20% down) – 14.04% (16.61%)

Rental income to qualify – 0.85% (0.98%)


Where did Buyer move from?

From within Board area – 63.45% (62.50%)

From Lower Mainland/Island – 15.55% (15.71%)

From Alberta – 8.82% (10.26%)

From other Areas BC – 4.20% (6.73%)

From E Canada/Maritimes – 3.36% (2.24%)

From Sask./Manitoba – 1.68% (1.60%)

From outside Canada – 2.52% (0.64%)

From the NWT/Yukon – 0.42% (0.32%)


In what area was property purchased?

Kelowna/West Kelowna – 55.46% (46.60%)

Vernon/Coldstream – 12.61% (16.83%)

Central Ok (outside K/WK) – 8.40% (7.4%)

Salmon Arm – 5.88%  (8.74%)

North Ok (outside V/CS) – 6.72% (8.09%)

Shuswap/Rev (outside SA) – 10.92% (12.3%)


Kind Regards


Trish Cenci


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