Investors Buying in the Kelowna Real Estate Market May 2016

Hi All, As the Kelowna Real Estate Market continues to hot up, more Investors were active in the Market this month, and more Buyers from the Lower Mainland,according to the April 2016 Okanagan Mainline Real Estate Board’s Buyers Survey Results.A total of 450 responses representing 42% of the…

Hi All,

As the Kelowna Real Estate Market continues to hot up, more Investors were active in the Market this month, and more Buyers from the Lower Mainland,according to the April 2016 Okanagan Mainline Real Estate Board’s Buyers Survey Results.A total of 450 responses representing 42% of the 1066 deals closed on behalf of Buyers in April.

Please see the full latest results below.

APRIL SURVEY SUMMARY

Property Type:

17.9% by Move-Up Buyers (down from 19% in March)

16.3% by Relocating and moving to similar property type (up from 15.6%)

16.3% buying Revenue/Investment Property (up from 12.1%)

16.1% by First Time Buyers (down from 20.2%)

15.2% by Buyers Downsizing (down from 16.5%)

7.8% moving from Single Family Home to Strata Unit (up from 7.2%)

5.4% buying Recreation Property (up from 4.4%)

4% moving from Strata Property to Single Family Home (up from 3.4%)

1.8% moving into Retirement Home/Seniors Community (down from 3.4%)

Buyer Type (Family Dynamic):

26.9% Two Parent Family/Children (down from 20.8% in March)

23.8% Empty Nester/Retired (down from 19.6%)

21.7% Couple without Children (up from 33.5%)

12.3% Single Male (down from 9.3%)

10.8% Single Female (up from 12.7%)

3.1% Single Parent with Children (up from 5.3%)

Moving From:

58.7% from Within OMREB Board Area (down from 63.6% in March)

18.3% from Lower Mainland/Vancouver Island (up from 11.5%)

10.7% from Alberta (up from 10.3%)

6.5% from Other Areas in BC (up from 6.2%)

3.8% from Eastern Canada/Maritimes (up from 3.1%)

1.6% from Saskatchewan/Manitoba (down from 4.4%)

0.4% from Outside Canada (down from 0.9%)

0% from NWT/Yukon (no change from 0%)

Kind regards

Trish and Tanis

Tel 250 863 8989

 



Source: |

Trish & Tanis
trishandtanis@gmail.com
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