- Suite 2302 had sold for the record price of $585,000, or $486 per square foot.
- Suite 3408 had sold for the record price of $490,000.
- Suite 2306, totally renovated, is for sale at $899,000.
- Suite 402, featuring a modified floor plan and 2nd shower, is for sale at $589,000.
Palace Place had experienced a strong first four months of 2015. Total sales had decreased from 11 sales in the first four months of 2014 to 10 sales in the first four months of 2015.
The record sales during this time were my sales of Suite 2302 for $585,000, which is $486 per square foot, and Suite 3408 for $490,000.
The average price per square foot for Palace Place for 2014 had been $405, which had been up from $399 in 2013, a dramatic rise from $371 in 2012.
The highest price per square foot that has been achieved for Palace Place remains my personal record at $515 per square foot.
Recently, I was touring Palace Place with a twenty-something Bay Street investment banker. Being 37, I can say that this was one of the first times that I felt old.
Having shown Palace Place more than any other realtor, this tour was an eye-opening experience into what this young, hip demographic looks for in a condo.
What I had quickly discovered was a lack of tolerance for suites that did not make a presentation effort.
We see it repeatedly in the home improvement TV shows. It takes a lot of effort to ready your home for sale. By not putting in that effort, or expecting buyers to have vision to see beyond, you only jeopardize your sale.
In this case, the suites that clearly did not make the effort were even more quickly dismissed.
To elevate our price per square foot, we must be sure to do everything possible to make our suites presentable. Palace Place has been long known for its luxury standard, but we need to ensure that our suites live up to that standard too!
It is for this reason that I am now offering clients free staging consultation and basic suite repair services as an addition to my already extensive list of listing service offerings.
As an owner at Palace Place and the longest serving realtor, I am highly motivated to achieve record prices. I am on-site and on-call 24/7. I am the only Palace Place realtor that has been recognized as one of the top advertisers in The Toronto Star, and I have advertised the most in The Globe & Mail. Add my website, homes and condos newsletters, Google, and other strategic initiatives, and you will quickly discover why I get the deal done!
Dollar for dollar, I offer the most marketing services for the least commission. Give me a call, or send me an email, for a confidential consultation at no charge or obligation.
As always, I am honored to be considered for your real estate needs. Thank you for your time.
February 23, 2015
You are ‘the man’ when it comes to selling units in the Palace Place! Your encyclopedic knowledge of the building and prices is invaluable. You are a great cheerleader who helps others recognize the enormous value in our property. You gave us great advice with regard to staging and pricing our condo. And you also made sure every potential purchaser saw how much the Palace Place has to offer. We were so pleased that you used your connections in the real estate community allowing you to achieve a record price for our unit in fewer than 7 days of showing.
Your connections, an excellent brochure, and great online package brought us three offers in a very short time, which ensured that we were able to pick the price, conditions, and closing date we wanted. We can’t thank you enough, and we encourage others to seek out your assistance.
This report article has been written by Luke Dalinda.
All statistics have been provided by the Toronto Real Estate Board, Royal LePage, and The Dalinda Report.
TM © The Dalinda Report. All rights reserved.
The information that has been written herein has been obtained from sources that have been deemed reliable. There has been no reason to doubt its accuracy, but, regretfully, it cannot be guaranteed.
Palace Place Toronto