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Toronto’s real estate market is showing early signs of an uptick in demand and competition among buyers, with the number of Greater Toronto Area (GTA) neighbourhoods in overbidding territory tripling between January and February, according to Wahi, a digital real estate platform. Wahi analyzed nearly 400 neighbourhoods and found that roughly one quarter (24%) were in overbidding territory in February, up dramatically from 9% in January. However, the vast majority of neighbourhoods (73%) are still in underbidding territory, and only 3% of GTA neighbourhoods are selling at asking prices. Overbidding is a reflection of market behaviour and can be driven by several factors, including demand exceeding supply or real estate agents pricing low to initiate a bidding war among buyers.

Read the full article on: REAL ESTATE MAGAZINE