These 4 neighbourhoods saw homes sell above asking in the Greater Toronto Area

Most of the Greater Toronto Area saw home prices drop in 2025 with many properties selling for under the list price.

The average selling price declined 5.1 per cent compared with a year earlier to $1,006,735 in the Greater Toronto Area in December, according to the Toronto Regional Real Estate Board’s latest report.

In these conditions, there isn’t much competition for homes.

The latest monthly Market Pulse from real estate platform and brokerage Wahi found 98 per cent of neighbourhoods with at least five home sales seeing prices bid below asking.

The remaining two per cent — which accounted for four of the 240 total neighbourhoods with five transactions — were in overbidding territory, Wahi said in the report.

This is roughly unchanged from November, when 97 per cent of neighbourhoods were underbid.

“Throughout 2025, homebuyers have had the upper hand, and December was certainly no exception,” said Wahi economist Ryan McLaughlin. “While economic uncertainty has kept some would-be buyers sidelined, many of those that have moved forward with plans to purchase have been able to negotiate lower prices.”

Just four GTA neighbourhoods were in overbidding territory in December.

Bridlewood and Wexford, two neighbouring communities in central Scarborough, experienced more pronounced overbidding activity compared to other neighbourhoods. Bridlewood and Wexford had median overbid amounts of $35,550 and $18,000, respectively, the report found.

This is a shift from November, when the lion’s share of top overbidding neighbourhoods were found in the heart of Toronto.

The top underbidding neighbourhoods were concentrated in Toronto in December. They were mostly located in established communities known for higher-end homes, such as Forest Hill, York Mills and the Annex.

The median sales prices in a majority of these neighbourhoods were near or in excess of the $2-million mark, whereas only one of the top overbidding neighbourhoods had a median sale price over $1 million.

There was a noticeable increase in homes selling for less than asking across the GTA.

Last month, 82 per cent of homes that changed hands did so for below the list price, compared to 78 per cent in November. This is the highest share of total listings selling for below asking in more than a year.

See the full report from Wahi here.