Buyer competition in the GTA continues to cool. In Mid-Q3, only 2% of qualifying GTA neighbourhoods saw homes sell over asking, down from 3% earlier in the quarter. That means bidding wars are now the exception, not the rule. Out of 267 neighbourhoods, 97% of homes were sold below asking and just 1% landed right at list price. Even the gap between condos and single-family homes is shrinking: 95% of neighbourhoods with enough single-family sales were underbid, compared to 98% for condos. An economist recently called this one of the quietest stretches for GTA real estate—an insight that rings true for anyone who’s been watching the market closely. Of the 4,200 homes sold in Mid-Q3, 79% went for less than asking, a slight uptick from 78% earlier. My experience tells me these quieter periods can open up real opportunities for buyers who value thoughtful, honest guidance in their next step—whether that’s a first purchase, a strategic investment, or making a change that feels right for their family.
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