Phase One of Promontory Kelowna development sells out
As we wrap up sales for Phase One townhouses at Promontory Kelowna, it comes as no surprise to us that local real estate expert Andrew Gaucher predicts the strengthening of Kelowna’s housing market in the coming months.
At Promontory this past week, we saw hundreds of realtors, clients, and neighbours through our presentation centre. Everyone expressing excitement at the location, the amenities (Hello!! Solar panels installed in every unit!) and the price point. That excitement translated in a sold-out Phase One within the first few days of launch.
Kelowna market sees upward movement
“Historically, there has been ~24-30 months of contraction before the market slowly moves upwards toward the past peak [of the market cycle]. We are approximately 24 months from the past peak here in May 2017, which was the fastest moving month ever in Kelowna.” Not only does Andrew’s prediction of the nearing end to the contraction period bode well for the Kelowna market, but they are likely going to see a longer than standard expansion period. Read more.
Promontory developer Bob Fraser of Evest Funds is thrilled with the results. “Our team has worked really hard to get to this point. We had to be creative to stand out in this market and clearly what we’re doing is working! I have complete confidence we’ll see the public take an even greater interest in the next phase of Promontory as they learn more about our unique offerings.”
Phase Two Launching August 17, 2019
Stay tuned for more information on Phase Two at Promontory Kelowna launching August 17th.
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