Kelowna Real Estate Market News

Kelowna Real Estate Buyers Survey Results August 2020

The latest Kelowna and Central Okanagan Real Estate Buyers Survey Results are now out for July 2020.


First-time buyers were less busy in the Market last month, while Investments and Recreational Property Buyers were busier.


There were also a lot more Buyers from the Lower Mainland and Vancouver Island.


Here are the full results -:


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


First Time Buyer – 15.10% (20.82%)

Revenue Property Investor – 8.92% (5.91%)

Moving Up – 21.28% (20.57%)

Similar Property Type – 21.74% (19.54%)

Downsizing – 11.44% (12.85%)

Single-family Res to Strata – 5.26% (5.66%)

Recreational Property – 8.47% (7.71%)

Retirement Community – 2.29% (1.80%)

Strata to Single Family – 3.2% (3.34%)


Describe the Buyer (family dynamic):


Couple without children – 25.28% (28.02%)

Two Parent family/children – 28.44% (27.76%)

Empty nesters or retired – 21.67% (17.99%)

Single female – 9.93% (14.65%)

Single male – 10.84% (8.48%)

Single parent with children – 2.48% (3.60%)


How did Buyer finance purchase?


Conventional (>20% down) – 55.10% (55.32%)

All cash – 28.57% (29.09%)

High ratio (< 20% down) – 15.87% (15.84%)

Rental income to qualify – 2.04% (0.52%)


Where did Buyer move from?


From within Board area – 58.01% (58.25%)

From Lower Mainland/Island – 18.74% (12.89%)

From Alberta – 11.06% (12.37%)

From other Areas BC – 7.45% (9.54%)

From E Canada/Maritimes – 2.03% (3.61%)

From Sask./Manitoba – 1.58% (1.55%)

From outside Canada – 1.13% (1.55%)

From the NWT/Yukon – 0% (0.26%)


In what area was the property purchased?


Kelowna/West Kelowna – 49.32% (47.56%)

Vernon/Coldstream – 17.57% (17.99%)

Central Ok (outside K/WK) – 8.33% (7.97%)

Salmon Arm – 6.53%  (9.25%)

North Ok (outside V/CS) – 7.66% (6.68%)

Shuswap/Rev (outside SA) – 10.59% (10.54%)


Kind Regards


Trish Cenci

Kelowna Real Estate Agent

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