Lately, we’ve seen GTA homebuyer competition cool off even further. In Mid-Q3, only 2% of qualifying GTA neighbourhoods entered overbidding territory (down from 3% in Early-Q3), which means bidding wars have become increasingly rare. Out of 267 qualifying neighbourhoods, a full 97% saw homes go for under asking, and just 1% sold at asking price. The difference between condos and single-family homes continues to shrink too—95% of single-family sales and 98% of condo sales were underbid. An economist described Mid-Q3 as one of the quietest periods in recent GTA real estate, and that’s translated to less competition for buyers. Of the 4,200 homes sold in this period, 79% changed hands below asking—a slight uptick from 78% earlier in the quarter, and a sign that single-family homes are now moving with the same softer demand as condos. For anyone considering a move in Ajax or Durham Region, this calmer market can mean more choice and less stress at the offer table. I’m here to help you navigate these shifts with honest advice and market insight, so you can move forward with confidence.
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