–<\/span><\/p>\n The share of GTA<\/a> neighbourhoods in underbidding territory reached the second-highest level since Wahi began tracking homebuyer competition in July 2022. <\/p>\n TORONTO<\/a>, ONT. \u2014July 7, 2025 \u2014 Underbidding in the Greater Toronto Area\u2019s housing market is nearing the highest level since Wahi began comparing the differences between monthly list and sale prices for homes across the region in July 2022.<\/span><\/p>[\/et_pb_text][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2025\/07\/GTA-Marketpulse-chart-15.png” _builder_version=”4.27.4″ _module_preset=”default” alt=”Percentage of Neighbourhoods in Overbidding and Underbidding Territory: June 2025″ title_text=”GTA Marketpulse chart (15)” hover_enabled=”0″ 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 June, 93% of GTA neighbourhoods with at least five home sales were in underbidding territory, compared to 87% in May and 71% during the same month last year. An additional 5% of neighbourhoods were overbid, while 2% were selling at asking, according to the latest Market Pulse report from Wahi, a Canadian real estate listing website.<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n The share of neighbourhoods in underbidding territory only tells part of the story. Wahi also looks at what percentage of all homes across the GTA are selling for below asking each month. In June, 71% of homes sold for less than the list price, compared to 68% in May, with the remainder selling above or at asking. <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n
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June\u2019s share of underbidding neighbourhoods is the second-highest on record, matching levels reached in December 2024 and November 2023. Underbidding set a new watermark in January 2024 and December 2023, when 98% of neighbourhoods were seeing home prices bid down. Note that seasonality influences bidding trends, as there\u2019s generally less homebuying activity in the summer and winter months.<\/span><\/p>\n
While underbidding activity remained elevated in June, Wahi CEO Benjy Katchen notes that buyer competition varies by property type and location, and bidding dynamics often come down to individual listing attributes. \u201cWhen a neighbourhood is in underbidding territory, it doesn\u2019t mean that every property is selling for less than asking or that sellers are taking huge losses,\u201d he says. \u201cIt\u2019s a general indicator of market behaviour.\u201d<\/span><\/span><\/p>\n
Though the GTA-wide median amount by which home prices were bid down has been rising in recent months, it was $22,450 in June, roughly in line with what was observed the last time underbidding was so widespread at the neighbourhood level, in December 2024.<\/span><\/span><\/p>\n
Once again, bidding competition in the condo segment was considerably softer than what was observed for single-family homes, which include detached and semi-detached houses as well as row and freehold townhomes. Some 95% of GTA neighbourhoods with at least five condo sales were underbid in June, compared to 86% when looking at single-family homes only.<\/span><\/span><\/p>\n
7-in-10 GTA Homes Selling Below Asking<\/strong><\/span><\/p>[\/et_pb_text][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2025\/07\/GTA-Marketpulse-chart-14.png” _builder_version=”4.27.4″ _module_preset=”default” alt=”Percentage of GTA Homes Selling Above, Below, and At Asking Price: June 2025″ title_text=”GTA Marketpulse chart (14)” hover_enabled=”0″ 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″]
Here, too, there was a significant discrepancy between condos and single-family homes. Last month, 79% of GTA condos changed hands for under asking, while the same was true of 67% of single-family homes. In May, underbid sales represented 78% of all transactions in the condo segment and 64% of single-family home deals.<\/span><\/p>\n
Competition Strongest in Durham<\/a>, City of Toronto<\/strong>
Of the five major markets that make up the GTA (the City of Toronto, Durham, Halton, Peel<\/a>, and York), Durham was the most competitive. There, 36% of homes that sold in June achieved a price at or above listing, followed by the City of Toronto at 32%.<\/span><\/p>\n
On the flipside, homes were most likely to sell below asking in Halton, (80%), Peel<\/a> (75%), and York (74%).<\/span><\/strong><\/span><\/p>[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]