This Squamish townhome project nearly sold out on day one—here’s what’s driving demand

On its opening day, Polygon Homes’ Terrain townhome project in Squamish sold 22 homes—nearly its entire first release in a single day. The brisk sales recall the frenzy of earlier pandemic-era launches, but in today’s uneven market, the performance stands out as a clear exception.

The property

Terrain sits within Squamish’s Garibaldi Springs neighbourhood, positioned on a hillside overlooking the valley and close to parkland and trail networks. The three- and four-bedroom townhomes feature contemporary “mountain modern” elements such as pitched rooflines, black-framed windows and vertical siding. Interiors follow open-concept layouts with large kitchen islands, while heat pump systems provide heating and cooling. The homes also include overheight garages with EV rough-ins and storage space, reflecting the needs of buyers drawn to Squamish’s outdoor-oriented lifestyle.

The sale

Polygon CEO Neil Chrystal says the project’s location and flexibility have resonated with a wide range of buyers. “Squamish is a very desirable location in the Lower Mainland, and we are seeing this area appeal to a wide range of buyers,” he explains. Buyers on opening day ranged from downsizers to young families needing more space, with some parents helping adult children enter the market. Certain floorplans include secondary suites, enabling multigenerational living—a feature that has become increasingly attractive as housing costs rise.

Terrain’s early success contrasts with broader cooling across the Lower Mainland, where higher borrowing costs and economic uncertainty have dampened activity. But Chrystal argues that demand hasn’t disappeared—it has become more selective. “This proves that demand still exists when you meet buyers where they are at,” he says. Polygon has seen steady interest across several of its townhome communities over the past year, particularly from buyers who delayed moves during market volatility.

Several factors appear to be drawing those buyers back in. Mortgage rates have begun to ease from recent highs, while government incentives—including GST rebates for some new homes—have improved affordability at the margins. At the same time, many households are moving for life-stage reasons rather than speculative ones: growing families seeking more space, empty nesters downsizing or workers relocating.