–<\/span><\/p>\n More Greater Toronto<\/a> Area neighbourhoods slipped into underbidding territory in April as overbidding competition fell month-over-month, with single-family homes seeing the biggest month-over-month drop.<\/span><\/em><\/p>\n TORONTO, ONT. \u2014May 2, 2025 \u2014 It wasn\u2019t a normal April by any stretch. The recently decided federal election was still a toss-up as Canadians were heading to the polls, and concerns over the economy and Canada\u2019s relationship to the U.S. were \u2014 and still are \u2014 running high. Some 84% of GTA neighbourhoods with at least five home sales were in underbidding territory last month, up from 73% in March<\/a>. That\u2019s an increase compared to the same point last year<\/a> (57%), as well as in April 2023 (39%). Just 13% of neighbourhoods were in overbidding territory in April, and an additional 2% saw homes generally selling at the asking price. (Percentages may not equal 100 due to rounding.)<\/p>\n <\/p>\n \u201cThe economy has been top of mind for many Canadians, especially during the recent federal election cycle and at a time of unprecedented trade tensions with the U.S.,\u201d says Wahi CEO Benjy Katchen. \u201cRecent data<\/a> appears to show consumer confidence took a hit as a result of all the uncertainty, and some Canadians put off buying big-ticket items, including homes, as a result,\u201d he notes. With the election results now in, there\u2019s at least one less element of uncertainty, Katchen adds, though it\u2019s too soon to see how a new government affects real estate<\/a> sentiment and the housing market at large.<\/p>\n <\/p>\n The latest decline sees bidding activity return to levels seen at the start of the year and suggests the typically busier spring real estate market hasn\u2019t really gotten into gear with two months remaining before the usual seasonal summer slowdown.<\/p>\n <\/p>\n Condos continued to lag single-family properties, including detached and semi-detached homes as well as row and townhouses. However, the gap in demand between the two is closing. In April, the share of neighbourhoods in underbidding territory for single-family homes was 76%, while for condos it was 97% \u2014 a significant-but-narrowing gap of 21 percentage points. In March, there was a 34-percentage-point spread between the two, as 60% of neighbourhoods were underbid for single-family homes and 94% for condos, which include townhouses with monthly maintenance fees.<\/p>[\/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=”||||false|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]
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Against this backdrop, it was also the quietest April for bidding competition on homes in the Greater Toronto Area since Wahi began tracking the market midway through 2022.<\/span><\/p>[\/et_pb_text][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2025\/05\/wahi-market-pulse-april-2025.png” alt=”Percentage of GTA Neighbourhoods in Overbidding and Underbidding Territory: April 2025″ title_text=”wahi-market-pulse-april-2025″ url=”https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/gta-market-pulse-april-2025\/” _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” 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=”||||false|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]