Toronto home sells for nearly $1M over asking

A Toronto home sold for nearly $1 million over the asking price last month, but it’s likely an outlier, a new report found.

The home at 20 Fenwick Ave., in North Riverdale, was listed on April 14 at $1,999,000 and sold just six days later for $2,952,000, $953,000 over the asking price, a new report from real estate platform HouseSigma states. This was the largest dollar over-bid in the GTA in April, HouseSigma said.

The four-bedroom renovated Edwardian residence, circa 1905, sits on a tree-lined street.

Another home that went for over asking was a four-bedroom place at 576 Gladstone Ave. But this home, in need of some renovations, was listed low at $699,000. It sold for 51.4 per cent over asking at $1,058,000.

Does this mean bidding wars are coming back? HouseSigma doesn’t think so.

It shows competitive pricing can still create a great result for the seller, the report states.

“What it doesn’t definitively do, however, is suggest that widespread detached bidding wars are coming back,” HouseSigma says. “Right now, it’s more of an exception to the rule.”

At the other end of the spectrum, a lakeside home in Oakville, at 21 Ennisclare Dr. E., sold for the lowest under asking price last month, the report found.

The seller had been asking a whopping $15.5 million, but the buyer paid $12.6 million, HouseSigma said.

This home at 21 Ennisclare Dr. E. in Oakville sold for well under the list price. Photo: Canada Home Group Realty Inc.

The deepest percentage discount was a three-bedroom condo-townhouse at 829 Richmond St. W. in Toronto that sold for $530,000, which is more than a third less than the $799,000 asking price.

While there are increases in home sales, prices are still down.

There were 5,946 home sales through the MLS System in April 2026 – an increase of seven per cent compared to April 2025 in the Greater Toronto Area, the Toronto Regional Real Estate Board said in its monthly report.

But the average selling price, at $1,051,969, was down by 4.9 per cent compared to April 2025 in the GTA, TRREB said.

Detached home sales in the GTA rose 6.8 per cent year-over-year in April 2026, even as the typical detached buyer paid below asking, HouseSigma said in its report.

The median detached listing price across the GTA was $1,200,000 in April 2026, down from $1,279,900 a year earlier, the report states. That’s a 6.2 per cent drop in what sellers were willing to ask as a starting point. Attached and condo sellers moved similarly: median list prices for both fell about 5.5 per cent to 5.8 per cent year-over-year.

Sale prices fell almost as much. The median detached sale closed at $1,200,000 in April 2026, compared with $1,275,000 in April 2025, a 5.9 per cent drop, HouseSigma said.

Most buyers are pushing for slightly more off the asking price — the typical detached sale closed 2.86 per cent below list this April.

HouseSigma offered advice for buyers and sellers in the current market.

For all buyers: don’t be afraid to offer below the asking price. More than seven in 10 detached buyers paid below list in April, with the typical discount running about $32,500 below the asking price.

For sellers: properties priced well still attract attention. Properties priced for a market that no longer exists tend to sit, drop, and then sell below where a sharper initial price would have landed them.

See the full report from HouseSigma here.

Lead photo of 20 Fenwick Ave.: ReMax Connect Realty