Kelowna Real Estate Market News

Kelowna Real Estate Buyers Survey Results March 2019

First-time Buyers were busier in the Market last month, as were move up Buyers, taking advantage of some of the softer prices we are seeing in the Kelowna and Central Okanagan Real Estate Markets.

There were less local Buyers moving, and to be expected fewer Buyers from the Lower Mainland, but interestingly more Buyers from Alberta.

To read the full Okanagan Mainline Real Estate Buyers Survey Results - see the details below -:

Property Type:

24.00% First Time Purchase (up from 18.13% in January)
19.11% Move Up Purchase (up from 16.58%)
15.56% Relocating to Similar Property Type (down from 18.65%)
8.00% Revenue/Investment (down from 11.92%)
14.67% Downsizing (up from 12.95%)
4.89% Moving from Single-family Home to Strata Unit (down from 8.29%)
2.67% Moving from Strata Property to Single Family Home (down from 4.66%)
4.89% Recreational Property (down from 6.22%)
0.89% Retirement Home/Seniors Community (down from 2.07%)

Buyer Type (Family Dynamic):

27.19% Two Parent family/children (up from 22.40% in January)
27.19% Couple without children (up from 25.00%)
20.18% Empty nesters or retired (up from 18.75%)
9.21% Single female (down from 16.15%)
10.09% Single male (up from 9.90%)
2.63% Single parent with children (down from 3.13%)

Moving From:

59.65% From within Board area (down from 62.89% in January)
14.91% From Lower Mainland/Island (down from 16.49%)
8.33% From other Areas BC (up from 7.22%)
9.65% From Alberta (up from 5.67%)
2.63% From outside Canada (down from 3.61%)
3.95% From E Canada/Maritimes (up from 2.06%)
0.88% From Sask./Manitoba (down from 2.06%)
0.00% From the NWT/Yukon (equal too 0.00%)

Kind Regards

Trish Cenci

Information courtesy of the Okanagan Mainline Real Estate Board.

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