Kelowna Real Estate Market News

Where did Kelowna Real Estate Buyers Come from February 2018?

The latest Buyers Survey Results have now been published by the Okanagan Mainline Real Estate Board for February 2018.


They show us who has been Buying Real Estate in Kelowna and the Central Okanagan during February.


First Time Buyers and Two-Parent Families were the busiest Buyers. The full results are below.

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

First Time Buyer – 19.3%

 

Moving Up – 18.8%

 

Similar Property Type – 18.8%

 

Revenue Property Investor – 14.4%

 

Downsizing – 13.5%

 

Single-family Res to Strata –6.7%


Strata into Single Family – 4.0%

 

Recreational Property – 4.0%

 

Retirement Community - 2.2%

Describe the Buyer (family dynamic):

Two Parent family/children – 28.3%


Couple without children – 26.5%


Empty nesters or retired – 17.0%


Single female – 14.4%


Single male – 9.9%


Single Parent with Children – 3.1%

 

How did Buyer finance purchase?

Conventional (>20% or down) – 57.9%


All cash – 26.9%


High ratio (< 20% down) – 16.1%


Rental income to qualify – 0.9%


Where did Buyer move from?


From within Board area – 55.3%


From Lower Mainland/Island – 18.6%


From other Areas BC – 11.1%


From Alberta – 8.4%


From outside Canada – 3.1%


From E Canada/Maritimes – 1.8%


From Sask./Manitoba – 1.3%


From the NWT/Yukon - 0.4%


In what area was property purchased?

Kelowna/West Kelowna – 58.0%


Vernon/Coldstream – 17.0%


Central Ok (outside K/WK) – 9.4%


North Ok (outside V/CS) – 6.7%


Salmon Arm –5.8%


Shuswap/Rev (outside SA) – 3.1%


Kind Regards


Trish Cenci




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