Kelowna Real Estate Market News

Where did the Kelowna Real Estate Buyers come from - May 2019?

Last months Buyers Survey Report is now out, provided by the Okanagan Mainline Real Estate Board (OMREB).

Less activity by First Time Buyers, but more people Downsizing and Investing.

Families were busier Buying, but there were less out of area buyers. I suspect this is due to many have greater difficulty Selling their own homes, as many areas are struggling with sales at the moment.

Property Type:

19.89% First Time Purchase (down from 23.48% in April)

17.74% Move Up Purchase (down from 19.61%)

19.62% Relocating to Similar Property Type (up from 16.85%)

11.02% Revenue/Investment (up from 8.29%)

19.09% Downsizing (up from 15.75%)

7.53% Moving from Single-family Home to Strata Unit (up from 5.52%)

2.96% Moving from Strata Property to Single Family Home (up from 2.76%)

3.76% Recreational Property (down from 5.25%)

1.34% Retirement Home/Seniors Community (down from 2.49%)

Buyer Type (Family Dynamic):

27.03% Two Parent family/children (up from 22.47% in April)

24.86% Couple without children (down from 30.41%)

21.89% Empty nesters or retired (up from 21.10%)

9.73% Single female (down from 11.78%)

12.7% Single male (up from 12.05%)

3.51% Single parent with children (up from 2.19%)

Moving From:

62.93% From within Board area (up from 61.37% in April)

15.47% From Lower Mainland/Island (up from 15.07%)

7.47% From other Areas BC (down from 7.95%)

7.73% From Alberta (down from 9.59%)

1.07% From outside Canada (down from 2.74%)

2.93% From E Canada/Maritimes (up from 1.92%)

1.87% From Sask./Manitoba (up from 1.10%)

0.53% From the NWT/Yukon (up from 0.27%)

Trish Cenci

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