
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
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