Buyer competition across the GTA continues to ease, making this one of the quieter periods we’ve seen in local real estate. In Mid-Q3, only 2% of qualifying neighbourhoods entered overbidding territory—down from 3% earlier in the quarter. Out of 267 neighbourhoods, 97% saw homes sell below asking, and just 1% sold at asking price, which means bidding wars were few and far between. The gap between condo and single-family home sales keeps shrinking as well: 95% of neighbourhoods with enough single-family transactions were underbid, compared to 98% for condos. Of the 4,200 homes sold in Mid-Q3, 79% changed hands below the listed price, up slightly from 78% in Early-Q3 as single-family homes followed the broader trend of softened demand. As someone who has worked with buyers and sellers throughout the GTA for nearly two decades, these numbers highlight the new landscape—one where patience and local expertise can make all the difference.
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