
The latest Kelowna Real Estate Buyers Survey Results are now out, for November 2020.
First-Time Buyers and Revenue Investors were busier in the market this last month.
There were more 2 Parent Families Buying, and the Market in Kelowna / West Kelowna was busier, with Vernon area being less busy.
Here is the full report.
Best describe your most recent Buyer (moving to/from property type)
First Time Buyer – 18.43% (13.98%)
Revenue Property Investor – 14.09% (10.38%)
Moving Up – 18.16% (22.03%)
Similar Property Type – 14.09% (20.34 %)
Downsizing – 12.47% 14.41%)
Single-family Res to Strata – 4.88% 5.30%)
Recreational Property – 12.20% (8.05%)
Retirement Community – 1.63% (0.42%)
Strata to Single Family – 4.88% (2.54%)
Describe the Buyer (family dynamic):
Couple without children – 25.14% (23.54%)
Two-Parent Family/children – 31.35% (25%)
Empty nesters or retired – 17.3% (24.79%)
Single female – 11.89% (11.88%)
Single male – 11.08% (9.58%)
Single parent with children – 3.24% (2.92%)
How did Buyer finance purchase?
Conventional (>20% down) – 57.34% (58.25%)
All cash – 28.26% (30.06%)
High ratio (< 20% down) – 14.13% (11.27%)
Rental income to qualify – 1.63% (1.25%)
Where did Buyer move from?
From within Board area – 57.41% (56.96%)
From Lower Mainland/Island – 17.52% (18.30%)
From Alberta – 11.59% (11.23%)
From other Areas BC – 4.85% (4.78%)
From E Canada/Maritimes – 4.04% (4.16%)
From Sask./Manitoba – 2.16% (2.70%)
From outside Canada – 2.16% (1.66%)
From the NWT/Yukon – 0.27% (0.21%)
In what area was the property purchased?
Kelowna/West Kelowna – 54.99% (51.46%)
Vernon/Coldstream – 17.52% (20.42%)
Central Ok (outside K/WK) – 8.63% (8.75%)
Salmon Arm – 5.39% (5.21%)
North Ok (outside V/CS) – 5.39% 6.25%)
Shuswap/Rev (outside SA) – 8.09% (7.92%)
Kind Regards
Trish Cenci
Kelowna Real Estate Agent
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