Overbidding on homes increased last month in the Greater Toronto Area

Overbidding increased in the Greater Toronto Area last month, a new report found.

Real estate prices remain lower than one year ago. The average selling price in the GTA, at $1,051,969, was down by 4.9 per cent compared to April 2025, according to the latest report from the Toronto Regional Real Estate Board.

But there are some signs the market is picking up. A total of 5,946 home sales were recorded through TRREB’s MLS System in April 2026 – an increase of seven per cent compared to April 2025.

And there were some “noticeable stirrings” with some competition for single-family homes in the Greater Toronto Area this April, according to the latest analysis from digital real estate platform Wahi.

Wahi found 13 per cent of the 289 GTA neighbourhoods in which at least five homes changed hands landed in overbidding (selling for above the asking price) territory last month, up from six per cent of the 281 neighbourhoods that met the sales minimum in March.

The bulk of the remaining neighbourhoods, 84 per cent were in underbidding territory (selling for below the asking price) this past April, while two per cent were selling at the asking price. The percentages may not add up to 100 per cent due to rounding.

April’s market performance was identical to what was observed during the same month last year in terms of the share of neighbourhoods in overbidding and underbidding territory, Wahi noted.

As was the case a year ago, April’s increase in overbidding was largely within the single-family home segment, which includes detached and semi-detached homes as well as row and townhouses. For instance, looking only at single-family home sales, 21 per cent of neighbourhoods with at least five transactions of this housing type in April stood in overbidding territory.

In comparison, a mere three per cent of neighbourhoods were overbid when just counting condo sales. These figures match what was recorded in April of 2025.

“The Greater Toronto Area’s typical spring market is decidedly on pause, but we are seeing pockets of persistent demand in the region,” says Wahi economist Ryan McLaughlin. “In particular, neighbourhoods with more affordably priced single-family homes are attracting multiple-offer situations.”

The strongest overbidding activity is in Toronto, Wahi found. Four out of the five top neighbourhoods for overbidding were found in central parts of the city. The sole outlier was Rouge Woods, in Richmond Hill, and also a carryover from March.