Kelowna Real Estate Market News

Kelowna Real Estate Buyers Survey Results May 2020

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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