Kelowna Real Estate Market News

Kelowna Real Estate Buyers Survey February 2020

The January 2020 Buyers Survey Results are now posted for the Kelowna Real Estate Market and Central Okanagan area.


First Time Buyers and Couples without Children were some of the busiest Buyers last month. Buyers purchasing similar Properties were also busier in the market.


There were a few more Buyers from Alberta, and a few less from the Lower Mainland, and activity in Vernon, was also down last month.


To read the full report, please see below.



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


First Time Buyer – 22.09% (20.88%)

Revenue Property Investor – 12.27% (13.19%)

Moving Up – 16.56% (21.43%)

Similar Property Type – 19.63% (13.19%)

Downsizing – 13.50% (10.44%)

Single-family Res to Strata – 6.13% (2.75%)

Recreational Property – 6.75% (7.14)

Retirement Community-3.68% (1.10%)

Strata to Single Family – 1.23% (2.75%)


Describe the Buyer (family dynamic):

Couple without children – 23.93% (19.23%)

Two-Parent Family /children – 28.22% (27.47%)

Empty nesters or retired – 13.50% (14.84%)

Single female – 14.11% (18.13%)

Single male – 9.82% (10.46%)

Single parent with children – 6.75% (7.14%) 


How did Buyer finance purchase?

Conventional (>20% down) – 61.35% (56.35%)
All cash – 22.09% (24.86%)
High ratio (< 20% down) – 16.56% (18.23%)
Rental income to qualify – 1.23% (1.10%)



Where did Buyer move from?

From within Board area – 64.42% (64.64%)

From Lower Mainland/Island – 12.88% (14.36%)

From Alberta – 7.36% 6.63%

From other Areas BC – 4.91% (8.84%)

From E Canada/Maritimes – 3.68% (2.21%)

From Sask./Manitoba – 2.45% (1.10%)

From outside Canada – 4.29% (2.21%)

From the NWT/Yukon – 0% (0%)



In what area was the property purchased?

Kelowna/West Kelowna – 55.83% (54.40%)

Vernon/Coldstream – 12.88% (19.78%)

Central Ok (outside K/WK) – 5.52% (8.24%)

Salmon Arm – 8.59% (3.30%)

North Ok (outside V/CS) – 7.36% (6.59%)

Shuswap/Rev (outside SA) – 9.82% (7.69%)


Kind Regards


Trish Cenci






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