In December 2024, 80% of condos in the Greater Toronto Area (GTA) sold for less than asking, and 71% of single-family homes also sold below list price. The condo market saw lower competition due to higher supply and fewer buyers, while the single-family home market is tightening, partly due to an increase in the insured mortgage cap, which allows more buyers to access homes with lower down payments.
Wahi’s analysis showed 93% of GTA neighbourhoods were in underbidding territory, with condos seeing the most underbidding (99%). Notable overbid areas included Danforth and Milliken Mills West, while Eastlake in Oakville, known for custom homes, was the most consistently underbid neighbourhood. Wahi tracks bidding activity and offers real-time insights through its Market Pulse tool.
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* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.
