The new issue of The Dalinda Report has just been posted!
- Demand for Palace Place heats up, but be careful what you list for!
- Palace Place is getting the highest rent prices in Humber Bay Shores!
Where is the market?
To date in 2016, there had been 372 sales of condominium units that had been sold for under $450,000 in the Humber Bay Shores area.
During this time, there had only been 140 sales of condominium units that had been sold for above the $450,000 price point. Of that amount, there had only been 41 sales of condominium units that had been sold for between $500,000 and $600,000. Of those, only 3 sales were from Palace Place, 4 sales were from Palace Pier, 2 sales were from Newport Beach, and 1 sale was from Ocean Club.
Finally, since January 2016, there had only been 43 sales of condominium units that had been sold for above $700,000. Of those, 4 sales were from Palace Place, 4 sales were from Palace Pier, 1 sale was from Newport Beach, and 3 sales were from Ocean Club.
Palace Place had continued to experience low inventory, which had resulted in continued bidding wars for several suites. Total sales had decreased from 15 sales in the first eight months of 2015 to 13 sales in the first eight months of 2016.
The record sales during this time were my sales of Suite 2906 for $930,000, Suite 2910 for $547,000, and Suite 3102 for $585,000.
There is a lot of demand for Palace Place right now, so if you would like to set the next record price, please give me a call.
Use a Realtor that knows and cares!
Unfortunately, we are still seeing owners list their suites without any proper education to the market value. Recently, a 1,388 square foot suite was listed for $459,000. The realtor had advertised the square footage incorrectly as 1,279 square feet. Worse, the last sale was $565,000 and current listings were asking $689,000. The property was listed on a summer long-weekend before the market could take note, as multiple offers would have driven the price to its true value.
I see costly mistakes such as these far too often.
As the longest serving realtor at Palace Place and a fellow owner, I am highly motivated to achieve record prices. My experience and guidance will position your suite for top dollar. My marketing will offer you better exposure and better results.
October 7, 2015
Jose and I would like to thank you for all your work on selling our unit. In several occasions we bought and sold properties dealing with different real estate professionals and we have never experienced such dedication to marketing and presenting a unit. After the sell was agreed, all the paper work was done impeccable and incredibly fast.
Your advise and marketing techniques are world class. Thanks again Luke, we will recommend you to anyone that needs an excellent realtor.
All the best,
Malena and Jose Paradela