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.
For the most part, Tridel has avoided waterfront construction in Toronto. In fact, Tridel had never even built in Toronto’s flagship waterfront community, Humber Bay Shores.
So, when you hear that Tridel is building on Mississauga’s waterfront, you MUST take note.
Introducing, Harbourwalk by Tridel.
Harbourwalk is a modern luxury waterfront condominium residence consisting of two 19-storey towers that enclose a 57,000 square foot European style courtyard by Tridel, Canada’s largest and best condominium builder, on the shores of Lakeview Village, Mississauga’s new 177-acre waterfront community that will be the envy of the world.
The two towers will consist of 433 and 430 suites each for a total of 863 suites.
Suite sizes range from 579 to 2,000 square feet, offering 1-bedroom to 3-bedroom, plus den, suites.
Get VIP Access to the Best Units and the Best Pricing by contacting us today.
The average price and number of sales had actually increased over last month.
The Humber Bay Shores average price had increased by 3.2% over last year.
TORONTO – September 2, 2022
The month of August had seen a small rally for Toronto’s real estate resale market from July, which had resulted in increased sales, as the Toronto Real Estate Board had reported 5,627 sales of single-family dwellings in August 2022.
Total sales had increased by 14.5% from the 4,912 sales that had been recorded in July 2022, and total sales were down by 34.2% from the 8,549 sales that had been recorded in August 2021.
The August average price had increased by 0.9%.
The average price in August 2022 had increased by 0.4% to $1,079,500 from $1,074,754 in July 2022. The August 2022 average price had increased by 0.9% from the August 2021 average price of $1,070,201.
Looking just at the City of Toronto, the average price for a detached home had been $1,648,298, while the average price for a condominium apartment had totaled $736,940.
Active listings had decreased by 13.2%.
The number of active listings in August 2022 had decreased by 13.2% to 13,305 from the 15,334 active listings in July 2022 and had increased by 62.3% from the 8,199 active listings in August 2021.
The Humber Bay Shores average price had totaled $743,707.
Condominium apartment sales in the W06 west district that represents Humber Bay Shores had decreased to 43 sales in August 2022 from 46 sales in July 2022. The average condominium price in this district had totaled $743,707 in August 2022, which had decreased by 11.3% from $750,257 in July 2022. The August 2022 average price of $743,707 had increased by 3.2% over the August 2021 average price of $720,707.
Where is the market in Humber Bay Shores?
To date in 2022, there had been 307 sales of condominium units that had been sold for under $750,000 in the Humber Bay Shores area.
During this time, there had been 312 sales of condominium units that had been sold for above the $750,000 price point. Of that amount, there had been 213 sales of condominium units that had been sold for between $750,000 and $1,000,000. Of those, 4 sales were from Palace Place, 3 were from Palace Pier, 3 were from Waterford, 7 were from Ocean Club, and 7 were from Lago.
So far, there had been 86 sales of condominium units that had been sold for between $1,000,000 and $1,500,000. Of those, 5 sales were from Palace Place, 4 were from Palace Pier, 1 was from Ocean Club, and 2 were from Lago.
Finally, 15 sales were sold for over $1.5M. Of those, 2 sales were from Palace Place, 2 sales were from Waterford, 2 were from Palace Pier, and 1 was from Lago.
Vita on the Lake, 70 Annie Craig Drive, had started selling in January and to date has had over 23 sales ranging from $599,000 to $1.6M.
To view the Original Palace Place Price Chart, click here:
It has been suggested that a further rate increase will be announced on September 7. While such an increase will certainly dampen market activity for the fall, other economic factors, like employment and immigration, remain strong. As we head into 2023, this should bode well for setting off a chain reaction of increased activity.
Those that price their condos in accordance with these market dynamics and in a reasonable price progression will have no trouble selling. Those that base their pricing outside of market justification will continue to build up their “Days on the Market”, which will only amplify the doom and gloom reported by the media.
By Luke Dalinda
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If you want to sell, you could list with an outside agent and spend 100+ days on the market OR you could call Luke to achieve your goals and get the deal done!
The choice is simple. You could have 100+ days of endless showings and inconveniences by listing with a realtor that does not understand the Palace Place product or market or you could achieve your goals and get the deal done with someone who has dedicated 25+ years to Palace Place.
In fact, according to the Toronto Real Estate Board MLS data, current listings for sale have spent on average 81.5 days on MLS, with the longest being 123 days and counting! How many days does it take to realize that your strategy is not working? It is the sold sign that counts, and I have sold every single one of my listings this year to complete client satisfaction.
Despite the turmoil in the real estate market, I am still setting records selling Palace Place suites.
I offer an immense passion, innovative marketing strategies, and an encyclopedic knowledge of Palace Place, which is what is getting deals done in these challenging times. The following is a list of my deals so far in 2022.
Palace Place, 1 Palace Pier Court, Sales by Luke Dalinda in 2022
Palace Place, 1 Palace Pier Court, Suite 2705 (Seller and Buyer Rep.)
Palace Place, 1 Palace Pier Court, Suite 3405 (Seller Rep.)
Palace Place, 1 Palace Pier Court, Suite 1002 (Seller Rep.)
Palace Place, 1 Palace Pier Court, Suite 701 (Seller Rep.)
Palace Place, 1 Palace Pier Court, Suite 3508 (Seller Rep.)
Palace Place, 1 Palace Pier Court, Suite 2008 (Seller Rep.)
Palace Pier, 2045 Lake Shore B W, Suite 205 (Buyer rep.)
Palace Place, 1 Palace Pier Court, Suite 2705
Palace Place, 1 Palace Pier Court, Suite 3009
Palace Place, 1 Palace Pier Court, Suite 302
Palace Pier, 2045 Lake Shore B W, Suite 502
Having set the all-time record price for Palace Place at $1,138 per square foot, when the building average is $914 per square foot, and a brand new record for Palace Pier at $922 per square foot, when the building average is $606 per square foot, I know exactly what it takes to get top dollar for your suite.
Call, text, or email me today to learn exactly what I bring to the table to help you to achieve the best price possible.