PRICE INCREASE - 314 Palmerston Boulevard - PALMERSTON
In September, I posted
It was the house that had this living room...
I first posted it in October 2012 when it was listed at $4,450,000. I mentioned that if this were in the Annex or Yorkville, it would probably be listed around $5,750,000.
It didn't sell and by May 2013, the price had been dropped to $3,750,000.
It finally sold in August 2013 for $3,470,000.
Then in September 2015, 2 years after it sold for $3.5 million, it was back on the market.
The only visible changes were the paint colours...
The Kelly Wearstler like wall...
And it looked like they built a full rooftop patio with a bar and shower...
So, the main change was the rooftop patio.
If you were to add a 10% annual increase, the price would be $4,620,000 (plus the cost of the patio).
Instead, I mentioned the price was a 21% increase...
Which when I do the numbers again was actually a 33% annual increase.
33%!!!!!!
The asking price was $6,195,000.
Unsurprisingly, it didn't sell.
But now it is on the market again with a new agent and a new price.
The asking price for this townhouse that sold for $3.4 million only 3 years ago is now...
$6,250,000.