Where Toronto Homes Are Still Selling Over Asking

2 days ago
3 min read

If you only followed the headlines, you might assume Toronto’s housing market has slowed to a crawl. Stories of declining prices and cautious buyers have become a familiar refrain over the past year.

But step inside the market itself and a more nuanced picture emerges.

While certain segments of Toronto real estate remain soft, a number of neighbourhood pockets are still experiencing competitive bidding, particularly in the freehold market under $2 million. In some communities, the majority of homes are still selling above their list price, often after attracting multiple offers.

The difference today is that the activity is not evenly distributed across the city. Instead, bidding wars have become highly localized, concentrated in specific neighbourhoods where demand continues to significantly outpace supply.

To better understand where these competitive pockets exist, we analyzed January and February sales data from the Toronto Regional Real Estate Board (TRREB), focusing on freehold homes listed at $2 million and under. The analysis measures the percentage of properties that ultimately sold above their asking price, a strong indicator that a competitive offer process took place.

That timing is notable. The first two months of the year are traditionally a quieter period for the Toronto housing market, before the spring market fully begins. Yet even during this typically slower window, certain neighbourhoods are still seeing strong competition.

Across Toronto as a whole, 32% of homes in this price range have sold above asking. But zoom in by district and the numbers begin to tell a very different story.

The East End’s Competitive Core

Some of the most competitive markets right now are found in Toronto’s east end.

In E01, which includes neighbourhoods such as North Riverdale and South Riverdale, roughly 72% of homes have sold over asking price. Nearby E02, encompassing communities like East End Danforth and The Beach, has seen an even higher figure at 77%.

These neighbourhoods have long been among the city’s most desirable family communities. Riverdale and the Beaches are known for their high performing school catchments, walkable main streets, and proximity to parks and the lake, all of which continue to attract strong demand from buyers.

Many of the homes also offer historic architecture and character, which adds to their appeal in a city where new housing supply is often more uniform. When well priced homes come to market in these areas, competition among buyers can still be intense.

Strong Competition in the West End

Toronto’s west end is also showing surprising resilience.

Districts W01 and W02, which include High Park, Roncesvalles, the Junction, Bloor West Village, and High Park North, are seeing over half of homes selling above asking price, with both districts currently sitting around 54%.

These neighbourhoods combine several of the elements that buyers consistently prioritize: proximity to High Park, one of the city’s largest and most beloved green spaces, established retail strips such as Roncesvalles and Bloor West Village, and strong transit access into the downtown core.

Like the east end, much of the housing stock also features older homes with character and generous lot sizes, something increasingly rare in many parts of the city.

With limited supply of these types of homes, it often takes only a small number of motivated buyers to create competitive bidding conditions.

Where the Market Is More Balanced

Elsewhere in the city, the story is different.

In several central districts, the share of homes selling over asking drops into the teens and twenties, suggesting a market where buyers have more negotiating leverage and properties are trading closer to their list price.

This unevenness is increasingly characteristic of Toronto real estate today. Rather than a citywide trend, the market is behaving more like a patchwork of micro-markets, each responding to its own mix of supply, demand, and buyer demographics.

A Market That Rewards Local Knowledge

What these numbers ultimately illustrate is how misleading broad market narratives can be.

While some areas are experiencing slower activity, others remain intensely competitive. In certain neighbourhoods, it is still common to see five, ten, or even twenty offers on a well-priced home.

For buyers and sellers alike, understanding these localized dynamics has never been more important.

The Toronto housing market may no longer be defined by citywide bidding wars. But in the right pockets, competition is still very much alive.

What the Map Shows

The map below highlights the percentage of freehold homes priced under $2 million that sold above their asking price in January and February. Areas where more than 60% of homes sold over asking are highlighted as the city’s most competitive pockets.

Toronto’s Bidding War Heat Map

Share of Freehold Homes Under $2M Selling Above Asking

January–February 2026