The latest Kelowna Real Estate Buyers Survey Results are now out, for August 2020.

Move up Buyers and Recreational Buyers, together Two-Parent Families with Children were busier in the market last month.

There were slightly less local Buyers, and less Buyers in the Kelowna / West Kelowna area, whereas there were more Buyers in the Vernon / Coldstream area.

Here is the full report.

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

First Time Buyer – 14.22% (15.10%)

Revenue Property Investor – 9.71% (8.92%)

Moving Up – 23.48% (21.28%)

Similar Property Type – 20.54% (21.74%)

Downsizing – 14.00% (11.44%)

Single family Res to Strata – 2.26% (5.26%)

Recreational Property – 11.06% ( 8.47%)

Retirement Community – 0.90%(2.29%)

Strata to Single Family – 2.03%  (3.20%)

  

Describe the Buyer (family dynamic):

Couple without children – 25.23% (25.28%)

Two Parent family/children – 33.11% (28.44%)

Empty nesters or retired – 18.69% (21.67%)

Single female – 10.81% (9.93%)

Single male – 8.56% (10.84%)

Single parent with children – 2.48% (2.48%)

How did Buyer finance purchase?

Conventional (>20% down) – 56.11% (55.10%)

All cash – 29.41% (28.57%)

High ratio (< 20% down) – 14.48% (15.87%)

Rental income to qualify – 0.23% (2.04%)

Where did Buyer move from?

From within Board area – 53.81% (58.01%)

From Lower Mainland/Island – 18.83% (18.74%)

From Alberta – 10.99% (11.06%)

From other Areas BC – 6.95% (7.45%)

From E Canada/Maritimes – 3.59% (2.03%)

From Sask./Manitoba – 3.36% (1.58%)

From outside Canada – 2.24% (1.13%)

From the NWT/Yukon – 0.22% (0%)

  

In what area was the property purchased?

Kelowna/West Kelowna – 47.06% (49.32%)

Vernon/Coldstream – 20.81% (17.57%)

Central Ok (outside K/WK) – 7.01% (8.33%)

Salmon Arm – 5.88% (6.53%)

North Ok (outside V/CS) – 8.37% (7.66%)

Shuswap/Rev (outside SA) – 10.86% (10.59%)

Kind Regards

Trish Cenci

Kelowna Real Estate Agent