Single-Family Homes Enjoy Stable Market with Steady Demand

Homebuyer competition in the Greater Toronto Area weakened in August, with only 2% of neighborhoods experiencing overbidding, down from 3% in July. Of 267 neighborhoods, 97% sold below asking and 1% at asking. The gap between condos and single-family homes narrowed, with 95% of single-family and 98% of condo neighborhoods selling below asking. Overall, 79% of homes sold below asking, indicating reduced competition.