Buyers are still nabbing homes for way under asking price in most parts of the GTA

The Toronto area real estate market is showing signs of recovery, with more buyers willing to enter the market despite a challenging year. In November 2024, 75% of homes sold in the Greater Toronto Area went for less than the asking price, up from 70% in October. Most neighborhoods are experiencing underbidding, with only 7% still seeing bidding wars. While some areas saw significant underbidding, others experienced overbidding. Forecasts suggest a 5% increase in home prices by late 2025 due to rising demand.