
First Time Buyers and Two-Parent Families were busier, and more Buyers were Buying in the Kelowna / West Kelowna area according to this latest month's Buyer Survey Results for the Kelowna and Central Okanagan Real Estate Market area during April 2020.
Here is the full report -:
Best describe your most recent Buyer (moving to/from property type)
First Time Buyer – 25.00% (19.28%)
Revenue Property Investor – 7.58% (7.63%)
Moving Up – 14.39% (21.69%)
Similar Property Type – 9.85% (18.47%)
Downsizing – 22.73% (16.87%)
Single family Res to Strata – 3.03% (4,42%)
Recreational Property – 4.55% ( 2.41%)
Retirement Community – 2.27% (3.61%)
Strata to Single Family – 3.79% (4.02%)
Describe the Buyer (family dynamic):
Couple without children – 21.37% (25.6%)
Two Parent family/children – 31.30% (21.2%)
Empty nesters or retired – 17.56% (23.2%)
Single female – 17.56% (13.6%)
Single male – 12.21% (12.4%)
Single parent with children – 1.53% (4%)
How did Buyer finance purchase?
Conventional (>20% down) – 55.73% ( 50%)
All cash – 30.53% (32%)
High ratio (< 20% down) – 12.98% (18%)
Rental income to qualify – 3.05% (0.80%)
Where did Buyer move from?
From within Board area – 65.15% (68.27%)
From Lower Mainland/Island – 15.15% (14.86%)
From Alberta – 5.30% (5.22%)
From other Areas BC – 6.06% ( 6.43%)
From E Canada/Maritimes – 6.06% (4.42%)
From Sask./Manitoba – 1.52% (0.80%)
From outside Canada – 0.76% (0%)
From the NWT/Yukon – 0% (0%)
In what area was the property purchased?
Kelowna/West Kelowna – 65.15% (55.82%)
Vernon/Coldstream – 11.36% (17.67%)
Central Ok (outside K/WK) – 4.55% (9.64%)
Salmon Arm – 5.30% (5.22%)
North Ok (outside V/CS) – 9.09% (4.42%)
Shuswap/Rev (outside SA) – 4.55% (7.23%)
Kind Regards
Trish Cenci
Kelowna Real Estate Agent
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