We’ve seen GTA homebuyer competition take another step back this Mid-Q3. Only 2% of qualifying neighbourhoods saw homes sell above asking, down from 3% earlier in the quarter—making bidding wars even less common. Of the 267 qualifying neighbourhoods, a full 97% sold under asking and just 1% hit the asking price. For anyone navigating the market, this means a quieter playing field, as even economists have noted this as one of GTA’s calmest stretches in recent memory. The gap between condos and single-family homes continues to shrink, too: 95% of single-family neighbourhoods and 98% of condo areas saw homes sell below asking. Out of the 4,200 homes sold, 79% were below list price. As someone who values honest advice and keeping stress at bay for my clients, I see this as a time where buyers can approach their search with a bit more confidence, knowing fierce bidding is less likely.
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