Anyone house hunting in the Greater Toronto Area right now may have more negotiating power according to a new report that found nearly 75 per cent of neighbourhoods saw homes sell below asking last month.
Wahi, a digital real estate platform and brokerage, analyzed homebuying competition across the GTA in March and determined it is “faltering.”
To come up with its analysis, Wahi compares the differences between median and sold prices to see what neighbourhoods are in overbidding or underbidding territory. It excludes any neighbourhood with less than five transactions in that month.
Across 213 neighbourhoods in the region, roughly six per cent were in overbidding territory. Wahi says this is down from the seven per cent across 238 neighbourhoods in February that met the sales minimum.
Ninety-two per cent of the remaining neighbourhoods were in underbidding territory in March, Wahi says, adding only two per cent had homes selling at asking price.
“This was the weakest month for homebuyer competition in at least four years,” the report reads, noting that Wahi started tracking over- and underbidding in July 2022.
Before March, the previous low was seen in 2025 when 20 per cent of neighbourhoods saw their prices bid upwards.
“Just when it seemed like the effects of economic uncertainty may have been fading, emerging geopolitical conflict appears to be spooking markets,” Ryan McLaughlin, an economist for the brokerage, said.
“Add to that the unseasonably cold weather to start spring and challenging-albeit-improved affordability, and there’s a recipe for subdued housing activity.”
Across housing types, Wahi noted that detached, single-family homes vastly outperformed condos with around 14 per cent of 221 neighbourhoods seeing at least five sales that were overbid (compared to the one per cent of 106 neighbourhoods with just five condo sales).
Outside of bidding activity, Wahi looked at how many listings sold for more than their list price and last month, 23 per cent of all homes sold did so. This is down from roughly one-third (31 per cent) during the same month last year. Meanwhile, 74 per cent of all homes sold under asking price.
Durham Region, for example, saw the most above-asking sales in March at 31 per cent of all sold listings. Meanwhile, Halton Region had the lowest, at nearly half that with 15 per cent.
“Similar to what we’ve seen at the neighbourhood level, regions with lower home prices are attracting more bidding competition than more expensive parts of the GTA,” McLaughlin said.
Most overbid neighbourhoods in GTA
Though competition was hot in Toronto’s east end for the first two months of 2026, Wahi said March saw a shift as three of the top five neighbourhoods for overbidding were in the west end.
Runnymede was the top neighbourhood last month with a median sold price of $1,272,500 and the median overbid amount at $196,500.
Bloor West Village in Toronto’s west end and Riverdale in the city’s east end were second and third with buyers overbidding by $107,000 and $99,000, respectively.
Only one neighbourhood outside of Toronto cracked the list, with Richmond Hill’s Rouge Woods coming in fourth with a median overbid of $91,000.
Trinity Bellwoods was the last neighbourhood in Toronto’s west end, with overbids at around $87,100.
The most underbid neighbourhoods
Before March, Wahi noted the GTA’s most underbid neighbourhoods were typically found outside of Toronto (with only one exception).
But, now three centrally located neighbourhoods in the city cracked the top five: Rosedale in first, Forest Hill in third, and Summerhill in fifth.
Though homes were listed at roughly $2.3 million in Rosedale, Wahi noted the median underbid amount was -$177,459.
These are the most underbid neigbourhoods in the GTA last month:
- Rosedale, Toronto, median underbid amount -$177,459
- Mineola, Mississauga, median underbid amount -$143,500
- Forest Hill, Toronto, median underbid amount -$142,500
- Neighbourhood of King Township, median underbid amount -$140,000
- Summerhill, Toronto, median underbid amount -$138,000
