In Late-Q2, just 6% of GTA neighbourhoods with at least five resale deals were overbid, while 93% were underbid and 1% sold at asking.
New GTA listings also weakened in Late-Q2, led by condo softness, creating conditions that could tighten supply and shift pricing later locally.
Condos showed the weakest competition: among 123 GTA neighbourhoods with enough condo sales, only one was overbid, while 98% remained in underbidding territory.
Single-family homes still drew more activity, with 11% of qualifying GTA neighbourhoods overbid, while established Old Toronto areas, especially the east end, attracted multiple offers.
For now, GTA buyers had extra negotiating time, particularly on condos, but fewer homes coming to market in the next few mo could revive competition.