Palace Place is Toronto’s most luxurious waterfront condominium residence, featuring every conceivable 5-star amenity, including valet parking, a private shuttle to downtown, and a Les Clefs d’Or concierge.
Palace Place, 1 Palace Pier Court, Suite 2003 – $5,800
Suite 2003 is a stunning condominium residence, with approximately 1,985 square feet of luxury living space, 2-bedrooms, and the most immersive views of the lake, the city, and the Humber Bay Shores parklands.
Palace Place Gym Photo Tour
Contact Luke Dalinda now for your exclusive opportunity to tour this amazing opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The 2024 market had resulted in the second lowest number of sales since 2001 for Toronto’s real estate resale market, as the Toronto Real Estate Board had reported 67,610 sales of single-family dwellings in 2024.
Total sales had increased by 2.6% from the 65,877 sales that had been recorded in 2023, which was the lowest year-end total in 24-years, and total sales had decreased by 10% from the 75,045 sales that had been recorded in 2022.
Foolish policies by the Bank of Canada (BoC) to increase interest rates that were then followed by major rate drops had created a historic level of uncertainty and financial turmoil leading to the worst sales levels in two decades.
The year-end, January 1 to December 31, single-family dwelling cumulative average price for the Toronto area in 2024 had totalled $1,117,623, which had decreased by 0.7% from $1,126,263 in 2023.
December 2024
The month of December had proven to be challenged for Toronto’s real estate resale market, which had resulted in decreased sales, as the Toronto Real Estate Board had reported 3,359 sales of single-family dwellings in December 2024.
Total sales were down by 1.8% from the 3,419 sales that had been recorded in December 2023, and total sales had decreased by 43% from the 5,875 sales that had been recorded in November 2024.
The December average price had decreased by 1.6%.
The average price in December 2024 had decreased by 1.6% to $1,067,186 from $1,084,757 in December 2023. The December 2024 average price had decreased by 3.5% from the November 2024 average price of $1,106,050.
Looking just at the City of Toronto for December 2024, the average price for a detached home had been $1,624,500, while the average price for a condominium apartment had totalled $719,774, which had increased from $709,283 in December 2023.
Active listings had increased year over year but decreased from November.
The number of active listings in December 2024 had decreased by 29.4% to 15,393 from the 21,818 active listings in November 2024 and had increased by 48.5% from the 10,368 active listings in December 2023.
The Humber Bay Shores average price had totalled $667,733.
Condominium apartment sales in the W06 west district that represents Humber Bay Shores had decreased to 27 sales in December 2024 from 46 sales in November 2024. The average condominium price in this district had totalled $667,733 in December 2024, which had decreased by 7% from $718,020 in November 2024.
The W07 average price had totalled $2,295,000.
Home sales of detached houses in the W07 west district, which geographically represents Sunnylea, Thomson Orchard, and Spring Garden Park, had decreased to 3 sales in December 2024 from 10 sales in November 2024. The average detached home price in this district had totalled $2,295,000 in December 2024, which had increased by 39% from $1,647,500 in November 2024.
The W08 average price had totalled $1,795,307.
Home sales of detached houses in the W08 west district, which geographically represents Edenbridge, Humber Valley, North Drive, and The Kingsway, had decreased to 18 sales in December 2024 from 50 sales in November 2024. The average detached home price in this district had totalled $1,795,307 in December 2024, which had decreased by 18% from $2,190,304 in November 2024.
The W01 average price had totalled $3,518,333.
Home sales of detached houses in the W01 west district, which geographically represents Riverside Drive, Brule Gardens, and South Kingsway, had decreased to 3 sales in December 2024 from 9 sales in November 2024. The average detached home price in this district had totaled $3,518,333 in December 2024, which had increased by 78% from $1,968,000 in November 2024.
The Oakville average price had totaled $2,049,830.
Home sales of detached houses in Oakville had decreased to 47 sales in December 2024 from 111 sales in November 2024. The average detached home price in this district had totaled $2,049,830 in December 2024, which had decreased by 4% from $2,133,109 in November 2024.
Where is the market?
In 2024, there had been 390 sales of condominium units that had been sold for under $750,000 in the Humber Bay Shores area.
During this time, there had been 219 sales of condominium units that had been sold for above the $750,000 price point. Of that amount, there had been 143 sales of condominium units that had been sold for between $750,000 and $1,000,000. Of those, 3 sales were from Palace Place, 8 were from Palace Pier, none were from Waterford, 5 were from Ocean Club, 2 were from Lago, and 7 were from Vita.
There had been 62 sales of condominium units that had been sold for between $1,000,000 and $1,500,000. Of those, 6 sales were from Palace Place, 7 were from Palace Pier, 2 were from Ocean Club, 5 were from Lago, and 1 was from Vita.
Finally, 15 sales were sold for over $1.5M. Of those, 3 sales were from Palace Place, 6 sales were from Waterford, 3 were from Palace Pier, 1 was from Vita.
Looking at Mirabella, which is outside Humber Bay Shores, there were 47 sales in 2024.
There had been 34 sales that had been sold for under the $750,000. During this time, there had been 13 sales above the $750,000 price point. Of that amount, there had been 5 sales of condominium units that had been sold for between $750,000 and $1,000,000.
Finally, there were 8 sales that had been sold from $1M to $1.2M.
Water’s Edge, 38 Annie Craig Drive, a 56-storey tower, has just been completed and will be bringing new resale inventory to market in 2025.
2025 Market Commentary by Daiva Dalinda
We are on the cusp of a very dynamic time in real estate due to the significantly changed political and economic environment.
Politically, we have the U.S. potentially imposing inflationary tariffs on Canada.
Also, should the trend towards electing right party leaders continue, then there is a strong likelihood for a new Conservative Prime Minister in Canada who promises to improve a sluggish economy and reduce the country’s high debt levels with economic growth policies.
All this remains to be seen, but it is instilling some caution and uncertainty in the markets in spite of the Bank of Canada rate drop from 5% this time last year to 3.25% today.
Also the inflation rate is currently down to a below target rate of 1.9%
Economically, new mortgage rules coupled with lower interest rates are easing buyers into friendlier markets:
1) 30 year amortizations are available for first time buyers and new home buyers.
2) A ceiling increase from 1 million to 1.5 million for insured mortgages, allows buyers to buy with less than 20% down on more typically priced properties.
3) Eliminating stress testing when switching lenders creates bargaining power for homeowners.
This economic easing together with an expected increase in listing inventory due to 40% of mortgages coming up for renewal this year, will provide buyers with more opportunities.
Bottom line, buyers are seeing a light at the end of the tunnel already witnessed by the increase in sales activity for homes over 3 million by wealthier, less interest rate sensitive buyers. This promises to filter down to buyers of more modestly priced homes.
The latest research at Royal LePage is predicting detached homes in Toronto to increase 6% in 2025.
Condo prices however are still stifled by the over built environment and so are expected to drop a further 1% in 2025.
Of note is the disaster befallen condo sales for predominantly small condo units, that were once the domain of now scarce first time buyers and investors.
On the other hand larger, quality condos in prime locations have been holding their value and are in demand with families and down-sizers, that are emboldened by stronger price expectations for their resale homes.
One thing for certain is that real estate will continue to be a tale of two markets. Those with wealth who can easily buy, and those not likely to do much more than just try to hang onto what they have.
For all these reasons, an intelligent and personalized marketing strategy will allow our buyers and our sellers to navigate the housing market successfully.
You are invited to reach out at any time to discuss your specific needs.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
As the world welcomes the 47th President of the United States of America, we take a look at some of the things in common between President Trump and Palace Place.
“It is the outsiders that change the world. Never ever give up.”
How the Louis XV era influences the world’s most prestigious condominium residences
Palace Place has one of the most magnificent lobbies in Toronto. The style is classical, mixing Louis XV and Oriental furnishings. One of the center pieces of the Palace Place lobby is a Louis XV inspired desk.
Palace Place Lobby
Do you know what other infamous celebrity uses the exact same desk in their home office in one of New York’s most luxurious condominium residences?
Answer: Donald Trump, Trump Tower, NY
First Lady Melania Trump shows off the Trump home office at Trump Tower, NY.
Whether you love him or hate him, Trump has defined luxury real estate since the 1980s.
Both Trump and Palace Place have recognized the benefit of using classical pieces inspired by the Louis XV era to create an ambience of wealth and refinement.
Modern lobbies are only modern for so long, requiring condominiums to update them frequently at a major expense for the owners. Following a more classical design is timeless, following the highest standards of 5-star luxury.
President Donald J. Trump at his Louis XV inspired desk.
Trump Tower NYC and Palace Place had used the same kitchen manufacturer too!
Original Cellini logo
Completed in 1984, also at a cost of $200-million, the 58-storey Trump Tower NYC had forever changed the New York City landscape, setting a new standard in high-end luxury and finishes.
In choosing the best kitchen cabinetry for Trump Tower, Trump had selected Cellini Kitchens for the task. At the time, Cellini had defined luxury kitchen cabinetry around the world.
Cellini Kitchens had also been selected by Bramalea Limited for Palace Place. In fact, the founders of Cellini Kitchens have lived at Palace Place ever since, recognizing that in the condominium world Palace Place bears no equal.
The timeless, classical designs of Trump Tower NYC and Palace Place have set the standard for the haute luxury condominium market, a standard that remains unrivalled to this day.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 804 – $799,000
The only 1-bedroom suite style with a water view!
Suite 804 is a stunning, renovated condominium residence, with approximately 790 square feet of living space, 1-bedroom, and the most enchanting water views. The parking spot includes EV charging!
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 1605 – $1,299,000
On a clear day, you can see forever! Suite 1605 is a highly sought-after condominium residence, with approximately 1,228 square feet of living space, 2-bedrooms, 2-baths, and the most enchanting forever views of Lake Ontario.
Brand new Vidar engineered American Oak hardwood floors have just been installed throughout.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The housing market is poised for a comeback in 2025, as lower rates unleash pent-up demand.
Allow the Dalinda Team to achieve your goals and get the deal done!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
77 Baby Point Crescent** The biggest sale in Toronto West! Sold for $9,850,000
43 Kingsway Crescent* The biggest sale in the Kingsway! Sold for $7,250,000
72 Baby Point Crescent* Sold for $3,700,000
206 Roxborough Drive** Sold for $8,000,000
143 Dowling Avenue* Sold for $2,200,000
Palace Place 1 Palace Pier Court Suite 906**** Sold for $1.87M
Mirabella, West Tower 1928 Lake Shore Blvd W Suite 1210* Sold for $1,099,000
Marina Del Rey, Phase 2 2267 Lake Shore Blvd W Suite 1004* Sold for a record $1,036 per square foot
Palace Place 1 Palace Pier Court Suite 3302* Sold Over Asking for $1,020,000
Palace Place 1 Palace Pier Court Suite 3501**** Sold for $2,650,000
Palace Place 1 Palace Pier Court Suite 4010**** Sold over asking for $1M
Palace Place 1 Palace Pier Court Suite 3407**** Sold for $630K
Palace Place 1 Palace Pier Court Suite 1009* Sold for $1.1M
Jade 33 Shore Breeze Suite 3108* Sold for $575K
9 Valhalla Inn Road* Suite 2002 Sold in 5-days for $667,000
1880 Gordon Street Suite 810** Sold for $585,000
608 Richmond St. W Suite 803* Sold for $495,000
80 Nealon Avenue* Sold for $1,550,000
Palace Place 1 Palace Pier Court Suite 3702* Leased for $3,985
Palace Place 1 Palace Pier Court Suite 1505* Leased for $3,950
Key West Condos 36 Park Lawn Road Suite 4110* Leased for $3,500
Palace Place 1 Palace Pier Court Suite 3608**** Leased for $4,200
Palace Place 1 Palace Pier Court Suite 4301* Leased for $6,250
Palace Place 1 Palace Pier Court Suite 1806* Leased for $5,800
99 Harbour Square Suite 3502* Leased for $3,950
2560 Eglinton Ave W Suite 1507* Leased for $2,450
2560 Eglinton Ave W Suite 1611* Leased for $3,100
Achieve your goals, and get the deal done!
Contact us today! Dalinda.com
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Realtors post all kinds of shiny happy videos on social media talking about how great a particular condo may be, but do they really know? No, of course not.
The Miami Herald has just released a report based on a University of Miami study that has found that 35 buildings in Miami-Dade have sunk as much as three inches between 2016 and 2023. Some of these buildings include the iconic Surf Club Towers, Faena Hotel, the Porsche Design Tower, The Ritz-Carlton Residences, Trump Tower III, and Trump International Beach Resorts.
While some may blame climate change, the real problem stems from the builders, who always look to save costs even on the most important part of the project, the foundation. Both the US and Canadian governments do not force builders to disclose structural details to buyers – and buyers lack the education to know that they should even ask for these details. Imagine buying a car and not knowing the difference between a 4-cylinder and an 8-cylinder engine. When you buy a car, there is far more disclosure on the engine that drives it. When you buy a condo, you get nothing about the structure that holds it. Instead, all you get are floor plans with missing measurements and fancy artist renderings that in the end look nothing like what gets built.
Realtors, who should know better, are left to amplify the slick sales propaganda from the builders to the detriment of the best interests of the buyers.
For years, I have preached of the importance of understanding a building’s construction. If you are familiar with this blog, then you will know of the countless articles that I have written to support the unrivalled construction quality of Palace Place and why it remains the best option on Toronto’s waterfront.
Completed in 1993, at a record $200-million, Palace Place was built by Bramalea Limited, Canada’s largest builder at the time. Palace Place is not “the second Pier” or “the South tower,” it was built to set a standard and example for condominiums in Canada.
One of the cheaper construction methods used in condo towers across North America involves an augercast pile construction method versus a superior caisson foundation.
For what had saved the builder a few million off the top, it will now cost the residents of these Miami buildings hundreds of millions of dollars to correct, if at all.
The blame is solely on the governments. Forcing disclosure of construction methods used creates education amongst buyers that ultimately provides choice. This choice will lead the market to compete in offering better construction instead of cheaper construction. The result would not only save people’s homes but also elevate the entire construction industry in building quality.
Until then, let the Dalinda Team be your guide to the best well-built condominium residences in the concrete jungle.
For more about Palace Place, order Luke Dalinda’s book.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Today, the Bank of Canada has announced its fifth consecutive policy rate drop to 3.25%.
Condo buyers, who have remained on the sidelines for all of 2024, should take great comfort from this announcement, as it signals the time to buy. Prices will ultimately increase as the cycle of sales starts again. Unfortunately, many current buyers still lack the confidence to act given the turmoil, challenges, and uncertainty of the past year.
Because of what we call “heard mentality”, it typically takes 1.5 weeks for the buyer market to react to rate announcements. This news bodes very well for Palace Place going forward, and it demonstrates that the time to buy is now as prices should increase as activity increases.
Canadians need change, and it needs to start at the top. Trudeau needs to go. Canadians can literally smell the freedom and change coming to the USA and desperately need the same hope.
Best rates that we have seen so far:
5 year fixed at 4.29%
The next scheduled date for announcing the overnight rate target is January 29, 2025.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Christmas came early! According to our third party stats company, “You are so far ahead of second place that there’s no question that you’re #1”. 🙏🙏🙏 There are many awards in real estate, but these market titles mean the most. For the 8th consecutive year, I have been the #1 Top Selling Realtor in Humber Bay Shores! I am deeply thankful to my clients for these great honors.
Looking to sell in 2025? Let’s talk, and get the deal done!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 3410 – $999,000
Suite 3410 is a spacious, magnificent condominium residence, with approximately 1,395 square feet of living space, 2-bedrooms, and helicopter views of the lake, Humber River, High Park, and much more.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
