Kelowna Real Estate Market News

Kelowna Real Estate Buyers Survey October 2018

The latest Buyers Survey Results are now out for October 2018 for the Kelowna and Central Okanagan Real Estate Market.


First-time Buyers weren't as busy this month down to 14.87% from 20.08%, but there were more Investors up from 8.79% to 14.45%


Two-parent families with Children represented the highest Family Dynamic at 28.13%, and slightly more Buyers purchased from Alberta up to 10.7% from 7.48%.


Slightly fewer Buyers purchased in Kelowna - down to 42.06% from 43.21%, however, there were more Buyers purchased in the Vernon area up to 20.87% from 17.28%.


Here are the full results below.

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

First Time Buyer – 14.87%

Revenue Property Investor – 14.56% Moving Up – 12.97%
Similar Property Type– 22.15% Downsizing – 18.99%

Single Family Res to Strata – 5.70%
Recreational Property – 5.38%
Retirement Community-1.27%
Strata to Single Family – 3.16% 


Describe the Buyer (family dynamic): 


Couple without children – 24.38%

Two Parent family/children – 28.13%

Empty nesters or retired – 20.00%

Single female – 15.94%
Single male– 7.81%
Single parent with children– 3.44% 


How did Buyer finance purchase? 


Conventional (>20% down) – 57.01%

All cash – 32.09%
High ratio (< 20% down)– 10.90%

Rental income to qualify – 1.87% 


Where did Buyer move from? 


From within Board area – 56.07%

From Lower Mainland/Island – 18.07%
From Alberta– 7.48%
From other Areas BC– 9.03%

From E Canada/Maritimes – 4.36%

From Sask./Manitoba – 2.8%

From outside Canada – 2.18%

From the NWT/Yukon – 0.0% 

In what area was property purchased? 

Kelowna/West Kelowna – 42.06%
Vernon/Coldstream – 20.87%

Central Ok (outside K/WK) – 7.17%

Salmon Arm – 10.28%
North Ok (outside V/CS) – 8.10%

Shuswap/Rev (outside SA) – 11.53%


Kind Regards


Trish Cenci








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