{"id":304428,"date":"2024-10-03T16:05:58","date_gmt":"2024-10-03T16:05:58","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?page_id=304428"},"modified":"2024-10-03T16:05:58","modified_gmt":"2024-10-03T16:05:58","slug":"press-releases-october-3-gta-overbidding-rise","status":"publish","type":"page","link":"https:\/\/wahi.com\/ca\/en\/press-releases\/october-3-gta-overbidding-rise","title":{"rendered":"Wahi Press Release: GTA Housing Market Sees First Rise in Overbidding Since March"},"content":{"rendered":"\n[et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”53px||9px||false|false” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.20.2″ _module_preset=”default” custom_padding=”||4px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2022\/12\/Black-logo-600×185-1.png” title_text=”Black-logo-600×185″ _builder_version=”4.20.2″ _module_preset=”default” max_width=”300px” max_width_tablet=”300px” max_width_phone=”40%” max_width_last_edited=”on|phone” custom_margin=”||3px|||” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” header_text_color=”#000000″ header_font_size=”2.5rem” header_line_height=”3.5rem” custom_padding=”12px||||false|false” global_colors_info=”{}”]

News Release<\/h1>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”0px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font_size=”17px” text_line_height=”1.9em” header_2_font_size=”22px” header_2_line_height=”1.1em” custom_margin=”||50px|||” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]

GTA Housing Market Sees First Rise in Overbidding Since March<\/h2>\n

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As the leaves begin to fall, homebuying competition is on the rise with 13% of Greater Toronto Area neighbourhoods in overbidding territory this September.<\/em><\/p>\n

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TORONTO, ONT. \u2014 October 3, 2024 \u2014 For the first time since March, the share of Greater Toronto Area neighbourhoods in overbidding territory increased as competition for single-family homes started to simmer.<\/p>\n

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In September, 13% of the 284 neighbourhoods that had at least five home sales during the month were in overbidding territory, up from 8%<\/a> the previous month, according to new analysis from digital real estate platform Wahi. <\/p>[\/et_pb_text][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2024\/10\/gta-market-pulse-sept-2024.jpg” title_text=”gta-market-pulse-sept-2024″ _builder_version=”4.24.2″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″ url=”https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/gta-market-pulse-september-2024\/”][\/et_pb_image][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font_size=”17px” text_line_height=”1.9em” header_2_font_size=”22px” header_2_line_height=”1.1em” custom_margin=”||50px|||” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]

Another 1% of neighbourhoods were selling at-asking in September. However, the vast majority (86%) remained underbid.

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\u201cWith the start of the historically busier fall real estate market, stronger competition is expected,\u201d says Wahi CEO Benjy Katchen. \u201cHowever, we\u2019re still seeing transaction levels and bidding activity well below last year\u2019s level for this time of year,\u201d he adds.

Last September, 24% of GTA<\/a> neighbourhoods were in overbidding territory, with an additional 3% selling at-asking.<\/p>\n