Fewer Buyers from Vancounver Area in December 2016 Kelowna Real Estate Market

In the latest Kelowna Real Estate Buyers Survey Results from December 2016, there were fewer First Time Buyers in the Market and also fewer Buyers from Vancounver and Lower Mainland Area. In last months survey the  data was compiled from 190 survey responses, representing 41.5%…

In the latest Kelowna Real Estate Buyers Survey Results from December 2016, there were fewer First Time Buyers in the Market and also fewer Buyers from Vancounver and Lower Mainland Area.

In last months survey the  data was compiled from 190 survey responses, representing 41.5% of the 458 deals closed on behalf of Buyers in December.

Kelowna & Central Okanagan Real Estate Buyers Survey Summary December 2016

Property Type:
19.7% by First Time Buyers (down from 21.7% in November)
18.6% by Relocating and moving to similar property type (up from 16.1%)
16.0% by Move-Up Buyers (down from 17.1%)
14.9% buying Revenue/Investment Property (up from 11.5%)
13.8% by Buyers Downsizing (down from 18.4%)
5.3% moving from Single Family Home to Strata Unit (down from 7.4%)
5.3% buying Recreation Property (up from 5.1%)
3.2% moving from Strata Property to Single Family Home (up from 1.8%)
1.1% moving into Retirement Home/Seniors Community (down from 1.4%)

Buyer Type (Family Dynamic):
30% Couple without Children (up from 29.7% in November)
29.5% Two Parent Family/Children (up from 20.1%)
14.7% Empty Nester/Retired (down from 18.3%)
12.1% Single Female (up from 11.0%)
9.5% Single Male (down from 13.2%)
4.2% Single Parent with Children (down from 4.6%)

Moving From:
60.8% from Within OMREB Board Area (down from 61.5% in November)
11.1% from Alberta (up from 9.2%)
10.1% from Lower Mainland/Vancouver Island (down from 16.5%)
5.8% from Other Areas in BC (up from 4.1%)
4.2% from Outside Canada (up from 3.2%)
4.2% from Saskatchewan/Manitoba (up from 2.8%)
3.7% from Eastern Canada/Maritimes (up from 2.8%)
0% from NWT/Yukon (no change from 0%)

Kind Regards

Trish and Tanis

Tel 250 863 8989



Source: | OMREB

Trish & Tanis
trishandtanis@gmail.com
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