[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=”{}”]<\/p>\n
[\/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=”4.27.4″ _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″]<\/p>\n
–<\/span><\/p>\n One-in-five GTA<\/a> neighbourhoods landed in overbidding territory this February, with competition among homebuyers reaching an eight-month high.<\/span><\/em><\/p>\n \u00a0<\/span><\/p>\n TORONTO<\/a>, ONT. \u2014March 5, 2025 \u2014 It may have been a chilly February for Greater Toronto Area home sales and prices overall, but there was some indication of more widespread bidding competition among homebuyers who dipped their toes in the market last month. <\/p>\n The share of Greater Toronto Area neighbourhoods in overbidding territory roughly doubled between January and February, new analysis from digital real estate<\/a> platform Wahi suggests.<\/p>\n [\/et_pb_text][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2025\/03\/wahi-market-pulse-overbidding-timeline-february-2025.jpg” alt=”Percentage of GTA Neighbourhoods in Overbidding and Underbidding Territory: Feb 2025″ title_text=”wahi-market-pulse-overbidding-timeline-february-2025″ _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” url=”https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/gta-market-pulse-february-2025\/” sticky_enabled=”0″][\/et_pb_image][et_pb_text _builder_version=”4.27.4″ _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″]In February, 51 neighbourhoods (20%) with at least five home sales were in overbidding territory, compared to 26 (11%) in January<\/a>. This is the highest level of overbidding activity since June 2024, when 82 neighbourhoods (27%) overbid.<\/span><\/p>\n <\/p>\n Although overbidding surged within the first two months of the year, a total of 194 neighbourhoods (77%) remained in underbidding territory in February, while another eight (3%) saw homes selling at the asking price.<\/p>\n <\/p>\n \u201cThe rise in bidding activity is encouraging, but it\u2019s not unusual to see swings in the market ahead of the normally busy spring homebuying season,\u201d says Wahi CEO Benjy Katchen. Last year, he notes, the share of neighbourhoods in overbidding territory leapt from 0% to 25% between January and February. \u201cAlthough there were signs of a more competitive GTA housing market this February, buyers were still in command overall,\u201d Katchen continues.<\/p>\n <\/p>\n Both sales and prices were down on a year-over-year basis. The median price of a GTA home in February was $940,000, a 4% decline from a year ago. Meanwhile, a total of 3,977 homes sold across the GTA in February, representing a 30% decline from the same time last year.[\/et_pb_text][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2025\/03\/wahi-listings-market-pulse-february-2025.png” alt=”Percentage of GTA Homes Selling Above, Below, and At Asking Price: Feb 25″ title_text=”wahi-listings-market-pulse-february-2025″ _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” url=”https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/gta-market-pulse-february-2025\/” sticky_enabled=”0″][\/et_pb_image][et_pb_text _builder_version=”4.27.4″ _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″]<\/p>\n Nearly two-thirds (65%) of all homes that changed hands across the region last month sold for less than the asking price. While below-asking sales maintained a strong majority in February, the share of these transactions was down from 74% in January.<\/span><\/p>\n <\/p>\n Last month\u2019s increase in the number of homes selling above asking was driven by the single-family home segment, which includes detached and semi-detached homes as well as town and row houses. Some 39% of single-family homes sold for more than the asking price last month, a substantial increase from 26% in January.<\/p>\n <\/p>\n Bidding activity in the condo market remains subdued. Fewer than one-in-five condos (19%) sold above asking in February, compared to 16% in January. \u201cFor now, it remains a tale of two markets in the GTA. Competition for single-family homes is much stronger than demand for condos,\u201d says Katchen. \u201cLooking ahead, we\u2019ll be watching to see whether the reality of U.S. tariffs impacts homebuyer plans and changes the storyline,\u201d he adds.<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _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″]
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