Suite 4301 is a stunning condominium residence, with approximately 2,836 square feet of luxury living space, 3-bedrooms, and the most enchanting views of the lake, the city skyline, and High Park.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The 2022 market had resulted in the lowest number of sales since 2008 for Toronto’s real estate resale market, as the Toronto Real Estate Board had reported 75,140 sales of single-family dwellings in 2022.
Total sales had decreased by 38.2% from the 121,639 sales that had been recorded in 2021, and total sales had decreased by 21% from the 95,066 sales that had been recorded in 2020.
An aggressive, foolish policy by the Bank of Canada (BoC) to increase interest rates had created a historic level of uncertainty leading to the worst sales levels in over a decade.
Despite sales decline, the year-end average price rose by 8.6% in a symbolic Churchill-like gesture to the BoC.
The year-end, January 1 to December 31, single-family dwelling cumulative average price for the Toronto area in 2022 had totalled $1,189,850, which had increased by 8.6% from $1,095,333 in 2021.
December 2022
The month of December had proven to be the worst ever for Toronto’s real estate resale market, which had resulted in decreased sales, as the Toronto Real Estate Board had reported 3,117 sales of single-family dwellings in December 2022.
Total sales were down by 48.2% from the 6,013 sales that had been recorded in December 2021, and total sales had decreased by 31% from the 4,544 sales that had been recorded in November 2022.
The December average price had decreased by 9.2%.
The average price in December 2022 had decreased by 9.2% to $1,051,216 from $1,157,837 in December 2021. The December 2022 average price had decreased by 2.6% from the November 2022 average price of $1,079,395.
Looking just at the City of Toronto for December 2022, the average price for a detached home had been $1,627,635 ($1,698,178 in December 2021), while the average price for a condominium apartment had totalled $741,584, which had increased from $725,083 in December 2021.
Active listings had increased year over year but decreased from November.
The number of active listings in December 2022 had decreased by 24.7% to 8,692 from the 11,910 active listings in November 2021 and had increased by 169% from the 3,231 active listings in December 2021.
The Humber Bay Shores average price had totalled $814,439.
Condominium apartment sales in the W06 west district that represents Humber Bay Shores had decreased to 28 sales in December 2022 from 39 sales in November 2022. The average condominium price in this district had totalled $814,439 in December 2022, which had increased by 7.5% from $757,338 in November 2022. This had marked the first time ever that the average price in Humber Bay Shores had crossed the $800K mark.
Market Commentary by Daiva Dalinda
Many economists have theories, but I would like to also incorporate my boots on the ground observations too.
The media loves attention grabbing headlines. Screaming that sales were down 48.2% is not the whole story, without adding that listings were down 21.3%.
Also, a very relevant but overlooked fact was the historic price data comparisons.
They were:
2020 the average price was $929,636
2021 the average price was $1,095,333
2022 the average price was $1,189,850
The media is oblivious to these facts because they do not aid in their fear/disaster narrative.
What was of interest to me and my business was that in 2022 average prices still ended up higher than 2021. In the newly released December numbers, the 416 area code had an average price for a detached home of $1,627,635. Condos in the 416 area code averaged at $741,584.
These numbers are showing a much stronger market than the media is suggesting.
Another interesting factor that we are witnessing in the market today is an inverted yield curve. This means that the short-term interest rate of 6.59% is actually higher than the long term 5-year rate of 6.34%. And, in fact, the rate that is being offered by mortgage brokers today for a 5-year mortgage has dropped to 4.79%.
This clearly suggests that the banking industry is preparing for lower rates.
However, we do need to consider that there are a few storm clouds brewing.
First of all, pre-construction condos are experiencing strong vulnerability. Now that many of these projects are ready for occupancy, their purchasers are no longer are able to qualify for financing. Therefore, a continuing large number of assignments are hitting the market at reduced prices. This will impact existing condo inventory negatively.
Secondly, the recent interest rate increases have lagging factors. As mortgage terms come due in the next year or two, many new home owners may no longer qualify at the new rates and be forced to sell as well.
We all know that an increased supply will be detrimental to prices.
Worth mentioning is also Canada’s massive immigration policy, which will continue to fuel demand for housing in Toronto, but strain our already fragile infrastructure.
The return to office mandates will also increase demand for housing in central Toronto, as buyers return from suburban locations.
It is hard to say what impact the 2-year, foreign homebuyer ban will have. There are numerous exemptions that may make it a non-starter.
Finally, I am personally observing an important phenomenon. If a property is in a prime location, and is either a new build or an extensive renovation, it is realizing a quick sale at surprisingly high prices.
The only declines I am actually witnessing is of properties in need of maintenance and renovation.
It makes sense that the new man to claim the richest man in the world title, Bernard Arnault, is the owner of companies that are purveyors of super luxury goods. Hence, there is a lot of wealth in Toronto, and they will gladly pay a premium for the best.
For all the latest news and market insight, call Luke Dalinda at anytime at
416-725-7170 (text and phone) or at LDALINDA@DALINDA.NET
Read about the Palace Place record price per square foot below.
Long red carpet between rope barriers on entrance.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
A new, exclusive offering by Luke Dalinda to Palace Place, Palace Pier, and Humber Bay Shores
Exclusive Dual Layer Photography (TM) shows the best of your unit and the magnificence of your view in a single photo!
After – Dual Layer Photography (TM)
Before – an “iPhone photo”
After – Dual Layer Photography (TM)
Before – Photo As Is
After – Dual Layer Photography (TM)
Before Photo
The Dalinda Team uses a special patented process to capture the view without obstruction, merging it into a photo composite.
When other photographers try this method, they fail because their elements are not real or natural to the location. Instead, they use generic sky and water shots that unfortunately end up looking like lipstick on a pig.
Our exclusive method captures the authentic view in a way that others cannot. Our view scenes are the actual view with no photographic “makeup”.
Exclusive Dual Layer Photography (TM)
Given the challenges of today’s market, you just cannot list your suite on MLS and hope for a sale. Dual Layer Photography (TM) is just one of the many offerings exclusive to the Dalinda Team.
As the #1 top selling realtor at Palace Place and in Humber Bay Shores, Luke Dalinda will stop at nothing to get you the best price as quickly as possible, and he believes in doing everything possible to help you get every extra dollar possible.
Put the valuable commission dollars that you pay to work for you, and find out why Luke is the #1 Top Selling Realtor at Palace Place and in Humber Bay Shores.
It costs you nothing to learn how Luke Dalinda offers you more for less.
When it comes to buying
Luke Dalinda has dedicated over 25-years to Palace Place, more than any other realtor has. No one knows more about the history and facts of the building than Luke does. In fact, he wrote the book, literally!
For all the latest news and market insight, call Luke Dalinda at anytime at
416-725-7170 (text and phone) or at LDALINDA@DALINDA.NET
Read about the Palace Place record price per square foot below.
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
In what was just an awful year for the real estate market, I am deeply grateful to have achieved these milestones for 2022!
On top of it all, this was my 10th year serving as a volunteer in managing Palace Place, kicking off a $3.8M interior renovation.
To say that any of it was easy would be an understatement. To quote my favourite poem, “Under the bludgeonings of chance
My head is bloody, but unbowed.”
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Blvd W, Sales and Leases by Luke Dalinda in 2022
Sales
Palace Place, 1 Palace Pier Court, Suite 805 (Seller and Buyer Rep.)
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.)
Leases
Palace Place, 1 Palace Pier Court, Suite 2904
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 $1,141 per square foot, when the building average for 2021 was $914 per square foot, and a brand new record for Palace Pier at $922 per square foot, when the building average for 2021 was $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.
Long red carpet between rope barriers on entrance.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Call the Dalinda Team today, and have a Happy Halloween!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Led by renowned celebrity designer Ramsin Khachi (Marilyn Denis Show) and Folio Interiors, Palace Place has just commenced its fully-funded refurbishment of its hallway corridors. This major project will make use of new technologies to maximize design, comfort, and energy efficiency while reducing maintenance.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The Dalinda Team has served Humber Bay Shores from the very beginning. This greater insight into construction, builder and municipal reasoning, and historical awareness, combined with our vast market knowledge give our clients an unrivalled edge in making the best real estate decisions and investments.
On this 28th Anniversary of the Humber River Bridge, we recognize the landmark that defines the Humber Bay Shores community.
Built at a cost of $4,050,000, this gateway connects Toronto to Etobicoke, which historically was once a trading route of Eastern Woodlands Indigenous peoples.
Since 2017, the Dalinda Team has served as the #1 Top Selling Realtors for Humber Bay Shores, as per TREB MLS data that had been analyzed by independent third party, RE Stats.
Re: Music in the video Music: Sphinx by Harry Thumann Harry Thumann had been a prolific German electronic composer, record producer, and sound engineer. Most notably, his 1982 song Sphinx would serve as the inspiration for the legendary Knight Rider theme song, together with the 1876 classic Léo Delibes’ “Procession of Bacchus” from the ballet Sylvia.
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
For too long, a common misconception was that Palace Place was merely considered “the second Pier” or “the South tower,” but there are so many reasons that demonstrate why Palace Place was built to set a standard and example for condominiums in Canada.
These reasons are beautifully captured and presented in the Palace Place hardcover book.
After our first order had sold out in a single day, there will be one final order of a limited number of copies arriving in 10-days. If you would like to purchase one, please complete the reservation form below. First come, first served.
Again, this was the first time since 2018 that this book became available. After this, there are no plans to print any further copies.
Palace Place is a history book about the most prestigious, luxurious, and best managed waterfront condominium residence in Canada, which has been written by Luke Dalinda. Totalling 88-pages, this book features the most stunning 11 x 8.5-inch pictures that offer a vivid look at this landmark building.
From what the original site had looked like when divers had to plunge hundreds of feet into a dark abyss to the majestic oriental and Louis XV inspired furnishings and décor, this must-have book features everything that you have ever wanted to know about Palace Place.
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The Palace Place Hardcover Book has sold out in 1-day!
We thank all those who have purchased a copy.
There will be one final order of a limited number of copies arriving in 10-days. If you would like to purchase one, please complete the reservation form below. First come, first served.
Again, this was the first time since 2018 that this book became available. After this, there are no plans to print any further copies.
Palace Place is a history book about the most prestigious, luxurious, and best managed waterfront condominium residence in Canada, which has been written by Luke Dalinda. Totalling over 70-pages, this book features the most stunning 11 x 8.5-inch pictures that offer a vivid look at this landmark building.
From what the original site had looked like when divers had to plunge hundreds of feet into a dark abyss to the majestic oriental and Louis XV inspired furnishings and décor, this must-have book features everything that you have ever wanted to know about Palace Place.
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
For the first time since 2018, the Palace Place Hardcover Book is again available in limited quantities, now for only half the original price thanks to a new printing company.
To reserve a copy, send a message to: LDalinda@Dalinda.net
Palace Place is a history book about the most prestigious, luxurious, and best managed waterfront condominium residence in Canada, which has been written by Luke Dalinda. Totalling over 70-pages, this book features the most stunning 11 x 8.5-inch pictures that offer a vivid look at this landmark building.
From what the original site had looked like when divers had to plunge hundreds of feet into a dark abyss to the majestic oriental and Louis XV inspired furnishings and décor, this must-have book features everything that you have ever wanted to know about Palace Place.
ISBN: 978-0-9878046-0-0
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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
August 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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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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
Sales
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.)
Leases
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.
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
