Palace Place – Just Sold

Palace Place, 1 Palace Pier Court, Suite 3804 – Just Sold!

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 listings even 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.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

The #1 Top Selling Realtor in Humber Bay Shores offers you more…

Palace Place and Palace Pier

The Dalinda Team offers better exposure and better results:

  • Unrivalled, impact-driven marketing
  • Exclusive new Dual Layer Photography (TM) that shows the best of your unit and the magnificence of your view in a single photo
  • Renowned Toronto Life, high-end staging services
  • Our listings are among the highest-ranking search results for Google
  • Handyman services, including paint, plumbing, electrical, and cleaning
  • The Dalinda Team’s significant home business in Toronto West and Oakville offers exclusive crossover opportunities for our condo clients. Home sellers often become condo buyers.
  • All led by Luke Dalinda, who has serviced Humber Bay Shores since 1997, and who has led the flagship of the Crossbridge Condominium Portfolio of 400 condos for the last decade, offering incomparable insight and experience to condo corporation operations that ensure your interests are fully protected.

Simply listing on MLS is not enough, call to find out how we offer you more for less.

To view the Palace Place Price Chart, click here:

https://www.dalinda.net/price-charts/palace-place-2022/

To view the Mirabella Condos Price Chart, click here:

https://www.dalinda.net/price-charts/mirabella-condos-2022/

To view the Waterford Price Chart, click here:

https://www.dalinda.net/price-charts/waterford/

For a breakdown of market stats by neighborhood, click here:

https://www.dalinda.net/featured-neighbourhoods/

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 listings even 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.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

Palace Place Just Listed

Palace Place, 1 Palace Pier Court, Suite 4301

Contact for details

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. 

Click here for the brochure.

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even 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.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

The media reports doom & gloom, but the average price still rose 8.6%.

TORONTO – January 6, 2023

2022

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.

To view the Palace Place Price Chart, click here:

https://www.dalinda.net/price-charts/palace-place-2022/

To view the Mirabella Condos Price Chart, click here:

https://www.dalinda.net/price-charts/mirabella-condos-2022/

To view the Waterford Price Chart, click here:

https://www.dalinda.net/price-charts/waterford/

For a breakdown of market stats by neighborhood, click here:

https://www.dalinda.net/featured-neighbourhoods/

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 listings even 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.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

Introducing Dual Layer Photography (TM) to Palace Place

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!

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 listings even 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.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.