Patience and acceptance of a changed market help sell luxury condo

This roughly 30-year-old unit had, in another incarnation, been combined with its neighbour to create an extra-large suite, but more recently it was subdivided back to its original size.Last year, agent Luke Dalinda sold three 2,836-square-foot units in the northeast wing of Palace Place, a 47-storey building on the banks of the Humber River at Lake Ontario. But in February this year he sensed something very different when buyers showed far less enthusiasm for this similar three-bedroom model.

“These suites were selling in the $2.8-million range, but the seller was cognizant prices were lower,” Mr. Dalinda said. Every room has unobstructed views north, east or south, including the eat-in kitchen, two sunrooms and largest of three bathrooms.

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