The GTA market is sending a very mixed signal this fall. New September data shows 93% of GTA neighbourhoods were still in underbidding territory, meaning the typical home sold below its asking price. But at the same time, 24% of individual homes sold above asking, up from 18% in August. In other words, buyers still have negotiating power across most of the GTA — but competition is starting to return for the right properties. (mpamag.com)
The hottest competition is appearing in specific Toronto neighbourhoods. In Little Portugal–Brockton Village, the median home sold about $153,000 above asking in September. The Junction and Roncesvalles also recorded median overbids of more than $150,000. Meanwhile, higher-priced areas such as Kleinburg, Vaughan, saw homes selling well below asking, with a median underbid of about $183,000. (mpamag.com)
For buyers, this is why looking only at the “GTA market” can be misleading. You may have strong negotiating power in one neighbourhood and face multiple offers just a few kilometres away. Instead of asking whether it is a buyer’s market or seller’s market, the better question is: what is happening with the exact type of home and neighbourhood you want?
For sellers, this is also an important reality check. Some homes are attracting competition again, but that does not mean bidding wars are back everywhere. Pricing a property too high can still lead to long days on market and price reductions. The homes attracting the strongest offers tend to be in desirable locations and positioned correctly from the beginning.
The takeaway is simple: the GTA is no longer one market. Most neighbourhoods still favour buyers, but certain pockets are beginning to heat up. For buyers, that means opportunities still exist. For sellers, it means the right property, price, and neighbourhood can make a huge difference.
Source: Wahi / Canadian Mortgage Professional, October 5, 2026.