Kelowna Real Estate Market News

Kelowna Real Estate Buyers Survey Results March 2020

In the Kelowna Real Estate Buyers Survey results for February 2020, it seems that more Couple without Children and Empty Nesters were busier buying, and this potentially goes to explain why there were more cash buyers.


There were fewer buyers from local Markets but more from the Lower Mainland and more deciding to buy in the Vernon area.


Here are the full results -:


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


First Time Buyer – 20.63% (22.09%) 

Revenue Property Investor – 9.52% (12.27%)

Moving Up – 17.46% (16.56%)

Similar Property Type – 19.58 (19.63%)

Downsizing – 14.29% (13.50%)

Single-family Res to Strata – 5.29% (6.13%)

Recreational Property – 4.76% (6.75%)

Retirement Community-1.06% (3.68%)

Strata to Single Family – 3.70% (1.23%)


Describe the Buyer (family dynamic):

Couple without children – 25.40% (23.93%)

Two-Parent Family /children – 24.87% (28.22%)

Empty nesters or retired – 17.46% (13.50%)

Single female – 11.64% (14.11%)

Single male – 11.64% (9.82%)

Single parent with children – 3.17% (6.75%) 


How did Buyer finance purchase?

Conventional (>20% down) – 50.26% (61.35%)
All cash – 32.28% (22.09%)
High ratio (< 20% down) – 16.93% (16.56%)
Rental income to qualify – 1.59% (1.23%)


Where did Buyer move from?

From within Board area – 60.85% (64.42%)

From Lower Mainland/Island – 15.34% (12.88%)

From Alberta – 7.94% (7.36%)

From other Areas BC – 6.35% (4.91%)

From E Canada/Maritimes – 4.23% (3.68%)

From Sask./Manitoba – 1.59% (2.45%)

From outside Canada – 3.70% (4.29%)

From the NWT/Yukon – 0% (0%)



In what area was the property purchased?

Kelowna/West Kelowna – 53.19% (55.83%)

Vernon/Coldstream – 20.21% (12.88%)

Central Ok (outside K/WK) – 6.91% (5.52%)

Salmon Arm – 5.85% (8.59%)

North Ok (outside V/CS) – 6.91% (7.36%)

Shuswap/Rev (outside SA) – 6.91% (9.82%)


Kind Regards


Trish Cenci




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