Buyer competition in the GTA has softened further through mid-Q3, with only 2% of qualifying neighbourhoods experiencing overbidding, down from 3% earlier in the quarter. Out of 267 neighbourhoods analyzed, a notable 97% saw homes selling below asking, and just 1% matched the list price—bidding wars have been few and far between. The difference between the condo and single-family market is narrowing as well: 95% of neighbourhoods with sufficient single-family sales were underbid, while 98% of qualifying condo neighbourhoods saw the same trend. Economists are calling this one of the quietest periods for GTA real estate in recent memory, which has translated to less buyer competition. Of the 4,200 homes sold in mid-Q3, 79% went for below asking, compared to 78% earlier in the quarter. As someone who has turned a passion for real estate investing into a career, I see these numbers as giving buyers a little more room to breathe in a market that’s often fast-paced and competitive.
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