The January 2015 stats are in and I thought I should emphasis that while the media is putting everyone into a scare, perhaps we aren't expecting an economic meltdown due to low oil prices.
Kelowna is more diverse than people think. While we used to be known as a retirement area we have seen things change over the past few years. While having a large amount of money invested into Kelowna associated with oil and gas, it is just a small piece of what drives this healthy economy.
We have a young tech entrepreneurcommunity growing in Kelowna.
We have a huge health sector bringing a young demographic to care for our retirement base.
We have a vacation sector where people have bought strictly for vacation rentals or personal vacation use.
We have our Oil and Gas workers that choose to drive or fly out of Kelowna instead of the cold alternative of living elsewhere.
We have the rest of us, tradesmen, teachers, city workers, service workers, salesmen etc. that make up a vast majority of the 179,000+ growing population in the Kelowna Metropolitan Area.
Here are the January Sales stats for the Okanagan Mainland Real Estate Board showing that at least for January we have nothing to worry about.
Moving From: 55.1% from Within OMREB Board Area (down from 59.5% in December) 17.4% from Alberta (up from 15.7%) *** 11.2% from Lower Mainland/Vancouver Island (up from 9.4%) *** 8.2% from Other Areas in BC (same as December) 4.1% from Eastern Canada/Maritimes (up from 3.5%) *** 2.0% from Saskatchewan/Manitoba (same as December) 2.0% from Outside Canada (up from 1.3%) *** 0% from NWT/Yukon (same as December)
*** Compared to December, more buyers moved from the Lower Mainland/Vancouver Island, Alberta, Eastern Canada/Maritimes, and from outside Canada during January.
Property Type: 28.0% of purchases were by Move-Up Buyers (up from 20.0% in December) * 14.0% by First Time Buyers (down from 18.6%) 11.8% by Buyers Downsizing (down from 17.9%) 9.7% moving from Single Family Home to Strata Unit (down from 11.7%) 9.7% buying Recreation Property (up from 9.2%) * 7.5% buying Revenue/Investment Property (down from 11.0%) 7.5% moving from Strata property to Single Family Home (up from 2.1%) * 2.2% moving into Retirement Home/Seniors Community (up from 1.4%) *
* During January, there were increases in purchases by move-up buyers, recreation property buyers, and people moving from stratas to single family homes compared to the previous month.
Buyer Type (Family Dynamic): 24.7% Two Parent Family/Children (down from 25.2% in December) 23.1% Couple without Children (down from 24.5%) 19.6% Empty Nester/Retired (down from 24.5%) 16.5% Single Female (up from 12.2%) ** 11.3% Single Male (up from 10.2%) ** 4.1% Single Parent with Children (down from 6.1%)
** There were more purchases by single females and single males during December, while other buyer categories were down.
With record low interest rates and low housing inventory, now is a better time than ever to buy and sell Real Estate. Give me a call today to discuss in more detail - David Delorme Coldwell Banker Horizon Realty - 778-821-3885
You have found a job, and you start work in a month. Your next question should be, Where are you going to Live?
Its a pretty important question.
For many coming from larger municipalities like Vancouver, Calgary and Toronto you might be thinking Kelowna is a fraction of the size, how hard could it be?
You would be surprised how many sub-areas we have out here. All with their own advantages and disadvantages. There is no wrong answer on where to live in Kelowna, but you want to make sure you find an area that is best suites your lifestyle.
One of the main Questions is "Which Side of The Bridge do you want to live On?"
Bridge Traffic is nothing compared to areas like Vancouver. I remember days where i would be in traffic over an hour to get maybe 15km. However, it is still a nuisance that can be avoided.
General properties are more affordable on the west side of Kelowna. Very few of us have an open budget so don't eliminate West Kelowna from the list just because of drive time. For the right price, it may be worth the commute.
Ask yourself these questions.
1) Where is your work? Or if you are traveling a lot for work, where are you going most often? If you are working in Alberta, maybe being close to the airport is a smart decision. Parking long term at the terminal or long cab rides can get costly when using these sources consistently.
2) Where are most of your extra curricular activities going to be? Driving to hockey rinks, ball diamonds, curling clubs, fitness centres, swimming pools, churches, PTA meetings, and networking events can come up daily. Where are most of these located. Maybe you want to live nearby?
3) Where are your kids going to school? Private school, french immersion, Kelowna Christian, highschool, middleschool, elementary school. You have a quite few choices.
4) What is your budget?
This is my current situation. Coming from experience, not the most practical. The Green is where we live in West Kelowna. The red dots represent where we work and the Blue represents our extra curricular spots.
After looking at this map, you might suggest some alternative areas that would cut down on our daily drive. I could guarantee moving to the Lower Mission or Downtown Kelowna Would save us a few hundred a month in fuel and a few hours a week in drive time. How valuable is your time?
Make a grid for yourself of where all your events will take place and you might be able to come up with a few locations that suit your commuter needs. Now you just need to make sure they check the rest of the boxes like neighborhood characteristics, home style, and school choice. Maybe you want to be on the flats with a flat driveway. Maybe you want to be up high to enjoy those amazing views?
Lets Stick to Picture and Video for the Rest!
Below is an area map of the Kelowna Sub Areas. I have also included Neighborhood videos for most of the Kelowna Neighborhoods. Use these as a reference to help decide what area works best for you.
This Neighbourhood offers luxury at it's finest. City and lake view homes, close proximity to Downtown, Knox Mountain park, shopping, and restaurants, make this a desirable area.
Every kind of neighbourhood you're looking for can be found in the Glenmore Valley Community of Kelowna, BC from centrally located condos, to established neighbourhoods, luxury homes, lake or valley view homes, town home complexes, gated communities and senior living. There is walking & hiking trails, multi-use paths, golfing, Parkinson Recreation centre, a running track, and multiple sports fields. The Glenmore valley has multiple elementary schools and a middle school, shopping and restaurants. It is also a short drive to major shopping centres, downtown (beaches), the UBC Okanagan campus and the Kelowna International Airport.
The DIlworth Mountain community in Kelowna, BC is an upscale neighbourhood located in the centre of the city giving you access to nearly every area. Real estate is very sound investment here as properties have a history of maintaining their value. There are sports fields and a winter hockey rink as well as gorgeous hiking trails with the most incredible panoramic views of Okanagan lake and the city below.
Shopping malls, hotels, businesses, restaurants, grocery stores, and recreation are along this corridor that runs from the bridge across Okanagan lake to the Kelowna International airport.
Downtown Kelowna, BC has a vibrant downtown with many art, theatre, boutique shopping and year round fitness options. Come visit our downtown office on Water Street or our kiosk in the lobby of the Delta Grand Hotel.
South Pandosy is one of Kelowna BC's first & most sought-after neighbourhoods. This community is very walkable. Not only can you access the beach on nearly every city block, you can also walk to Kelowna General Hospital, trendy boutiques, restaurants, cozy coffee shops, schools and yoga studios.
The Lower Mission neighbourhood of Kelowna, BC is a very desirable area due to its proximity to schools, sports fields, shopping centres, award winning wineries, golfing and beaches. There are a variety of real estate options available... including condos, town homes, single family homes and lake shore properties.
The Upper Mission neighbourhood is one of the fastest growing community in Kelowna, BC. This area offers stunning views of Okanagan lake and the city below. Real estate varies from newer town home projects, executive view homes, large scale multi-million dollar lake shore and lake-view estates. This area is surrounded by natural areas with hiking and biking trails including the Kettle Valley Railway trestles.
Southeast Kelowna is one of the most diverse areas of Kelowna with regard to real estate and natural surroundings. There are a variety of housing options including acreages, single family housing, farms and vineyards. There is hiking, biking and golfing, and is a short drive to the lower mission area of Kelowna and the many beaches.
These are three distinct neighbourhoods in Kelowna, BC. Ellison is Northeast of Kelowna and offers a mixture of real estate opportunities. Ranch lands, orchards, farms, family neighbourhoods, senior communities and golf course living. This area has three golf courses and the Kelowna International Airport. Rutland is an established centre with a thriving core. Rutland is a mix of affordable family townhome complexes, condos, mixed single family homes, senior communities and farms and acreages. There is recreation facilities, shopping, restaurants, schools, a water park and golfing for the active person. Black Mountain is just up Highway 33 from Rutland and has a mix of older family neighbourhoods and an explosion of newer developments with mid ranged prices to luxury lake view homes. There is the popular Black Mountain Golf Course plus numerous parks and hiking trails in the area.
Welcome to SMITH CREEK and SHANNON LAKE located in the northwest portion of beautiful West Kelowna, offering housing in all budgets. What are you looking for in an area to call home? Smith Creek and Shannon Lake are tucked away from the busy streets of the city making them great for families with young children. You'll find everything from condominiums and town homes to large scale view homes here. Kids can walk to school and it's a 5 minute drive to the West Kelowna shopping centers, big box stores and the Johnson Bently Memorial Aquatic Center. Shannon Lake features a gorgeous 18 hole golf course with views of the valley and mount Boucherie . It borders Shannon Lake Regional Park which offers fantastic bass and perch fishing, plus ice skating in the winter months. You have direct access to endless hiking, biking and horse riding trails in the hills above these areas. If you like peace and quiet, friendly neighbourhoods with schools and conveniences nearby.
This area highlights the Okanagan View.... vineyards and Okanagan Lake in the same picture. Real Estate opportunities appeal to the executive and luxury purchasers. You'll find many award winning multi-million dollar masterpieces and lake shore properties whose putting greens, wine cellars, infinity pools and lavish features will amaze you. Driving by beautiful acreages and estate properties gives you that country feel. Lakeview heights with its maximum sun exposure is one the premier wine regions of Canada. Visit the award winning Mission Hill Winery and many others along the Wine Trail. People from all over the world come to experience these world class vintages and entertainment. Schools, shopping, golf and your real estate office are nearby, In recent years lakefront condominium and town home projects have been constructed and with this comes investment opportunities offering short and long term rentals. These resorts include full scale marinas, gourmet restaurants and all the luxuries you would expect of an exotic destination. The city of West Kelowna has committed to raising the bar with local lifestyle in by restoring the historic ferry dock as well as grooming waterfront pathways for all to enjoy. Relax on beaches, access the boat launch at the West Kelowna Yacht Club or picnic at the Historic Gellatly nut farm.
Due to an explosion of growth and development in West Kelowna you no longer have to cross the floating bridge to access big box stores, boutique shopping, restaurants and recreation. Downtown West Kelowna is extremely walkable allowing you to do your errands, golf and then unwind on the Patio at Two Eagles Golf Club. Enjoy Live Music and one of the best views this area has to offer. West Kelowna downtown features predominantly condos, gated communities and mobile-home parks situated on a mixture of freehold and leasehold land.
West Kelowna estates is located on the southeast facing slopes of West Kelowna. It's just a short drive from downtown Kelowna across the floating bridge or to downtown West Kelowna where you'll find all the major department stores, restaurants and much more. There are elementary and secondary schools nearby as well as endless hiking trails and parks to enjoy. Housing in the area starts in the mid range and goes up to multi-million dollar view homes which offer breathtaking views of Okanagan Lake and the surrounding mountains. Next to this area is the neighborhood of Rose Valley which is popular with families due to the great schools and natural surroundings.
For further information on the numerous Sub-Areas of Kelowna, give me a call, David Delorme 778-821-3885.
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