Are Bidding Wars Back in the GTA? What to Expect in 2027

Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty

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Row of brick semi-detached houses on a leafy east-end Toronto street (illustrative)

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — TRREB data shows most GTA homes sold below asking in 2026. Here is where bidding wars remain and what to expect in 2027.

Short answer

Not across the GTA. In October 2026 homes sold for an average of 97% of list price, with 4.6 months of inventory, according to TRREB. Competition remains in pockets: Toronto E01 averaged 106% of asking and Toronto semis 102%. Expect normal spring competition for well-priced freeholds in 2027, and room to negotiate elsewhere.

This is for buyers planning to purchase in Toronto or the wider GTA in 2027 who want to know whether they will face bidding wars. You will get the latest TRREB numbers on how close homes sell to asking price, the pockets where competition is still strong, what could change in 2027, and how to bid without overpaying.

Are bidding wars back in the GTA?

Not across the GTA. In October 2026, the average home in the TRREB area sold for 97% of its list price, which means most buyers paid less than asking, not more. Homes stayed on the market for an average of 31 days.

But bidding wars never fully went away. In a handful of Toronto districts, homes sold for more than asking on average in October 2026, and semi-detached houses across the region sold slightly over list. So the honest answer for 2027 is this: most buyers will have room to negotiate, while buyers chasing well-priced freehold homes in the most popular central and east-end Toronto areas should still expect competition.

What do TRREB’s numbers say about selling over asking in 2026?

TRREB’s Market Watch reports the average sale-price-to-list-price ratio (SP/LP) every month. Above 100% means homes sold over asking on average. Below 100% means under. Compare 2026 with the peak of the last frenzy.

Month	Avg sale-to-list ratio	Months of inventory	Avg days on market	New listings
March 2022	113%	0.9	8	20,038
October 2025	98%	4.7	31	16,069
April 2026	98%	4.9	29	17,097
May 2026	98%	4.8	27	17,698
September 2026	98%	4.6	34	16,500
October 2026	97%	4.6	31	14,173

Source: TRREB Market Watch reports for each month shown, all TRREB areas, all home types. TRREB has since revised some historic data, so older figures are as first reported.

Months of inventory tells you how long it would take to sell every active listing at the current pace of sales. In March 2022 it was under one month, and the average home sold for 13% over asking. In late 2026 it is between four and five months. That is a far calmer market.

The year-to-date picture is the same. From January to October 2026, homes across the TRREB area sold for an average of 98% of list price.

Where in the GTA are homes still selling over asking?

A few Toronto districts were the exception in October 2026. These are TRREB district averages for all home types, not neighbourhood figures.

Toronto district	Avg sale-to-list, Oct 2026	Avg days on market, Oct 2026	Avg sale-to-list, Jan–Oct 2026
E01	106%	13	108%
E02	104%	17	105%
E03	101%	21	103%
W02	101%	22	104%
W01	100%	33	102%
W03	100%	29	101%
C12	94%	30	92%

Source: TRREB Market Watch, October 2026 (monthly and year-to-date tables, City of Toronto municipal breakdown).

The pattern is clear. A few east-end and west-end Toronto districts still draw multiple offers, and they have done so all year, not just in one month. High-end districts such as C12 sold well below asking. Outside Toronto, competition was mild:

Region	Avg sale-to-list, Oct 2026	Avg days on market, Oct 2026	Months of inventory	Median price, Oct 2026
Halton Region	96%	34	4.2	$953,750
Peel Region	97%	33	4.9	$831,000
City of Toronto	98%	30	4.6	$835,000
York Region	97%	33	5.0	$1,050,000
Durham Region	98%	29	3.6	$740,000

Source: TRREB Market Watch, October 2026, all home types.

Durham had the tightest supply of the five, with 3.6 months of inventory, and sold closest to asking along with Toronto. York Region had the most supply. If you are shopping in Peel, York or Halton in 2027, you are less likely to face multiple offers than a buyer in Toronto’s busiest districts.

REALM data backs this up. From January to October 2026, semi-detached homes in Toronto E01 sold in an average of 12 days, and detached homes in W02 in 14 days, compared with 30 days or more for detached homes in Brampton, Mississauga and Vaughan (TRREB MLS data via REALM). See our list of the GTA cities where homes sell fastest.

Which home types get the most competing offers?

Semi-detached homes and freehold townhouses are where competition shows up first, because they are the cheapest way into a freehold home.

Home type	Avg sale-to-list, all TRREB areas	Avg sale-to-list, City of Toronto
Detached	97%	97%
Semi-detached	101%	102%
Freehold townhouse	99%	100%
Condo townhouse	97%	97%
Condo apartment	97%	97%

Source: TRREB Market Watch, October 2026, sales by home type.

If you want a Toronto semi in 2027, plan for a competitive offer. If you want a condo apartment, you will likely be negotiating down, not bidding up.

Free tool — what can you actually afford?

Will bidding wars come back in 2027?

Possibly in some pockets, especially in spring, but a return to 2022 conditions looks unlikely for now. Here is what points each way.

What could bring more competition

Fewer listings. New listings in October 2026 were 14,173, down 11.9% from a year earlier, and active listings were down 10.0%. If buyers come back while supply stays tight, prices can firm quickly.
Waiting buyers. TRREB’s president said a Canada-U.S. trade deal and an end to the Middle East conflict could ease concerns and renew interest in buying as the market moves into 2027.

What is holding competition back

Higher rates. The Bank of Canada raised its policy rate to 2.50% on October 28, 2026, and big-bank prime rose to 4.70%. The Bank said a further increase could be needed. Its next decision is December 9, 2026.
Plenty of choice. With four to five months of inventory, most buyers can shop around.
Slower sales. October 2026 sales of 5,603 were down 7.9% from a year earlier.

My view, and it is only a view: expect normal spring competition for well-priced freehold homes in central Toronto in 2027, with most other segments staying buyer-friendly unless rates fall. For the wider outlook, see our GTA housing market forecast for 2027.

How do competing offers work in Ontario?

RECO, the provincial real estate regulator, sets the main rules buyers should know:

The seller’s agent must tell every buyer who submitted a written offer how many competing offers there are.
The seller decides what, if anything, to share about the offers. Agents may share offer details only if the seller tells them to.
You decide whether to take part in a process where your offer details might be shared, and the seller can change course at any time.
Offering at or over asking does not guarantee your offer will be accepted.

Sellers sometimes set an offer date and hold offers, or accept a “bully” offer before that date. Our guide to bully offers and competing offers in Ontario explains both.

How much over asking should you offer in 2027?

Start from the data, not the list price. A home listed at $1,000,000 in a district averaging 106% of list would, on average, sell for about $1,060,000. In a district averaging 97%, the same list price points to about $970,000. That is a $90,000 swing for the same asking price.

In my experience, some sellers in busy pockets list low on purpose to draw multiple offers. Ask your agent for recent sold prices of similar homes nearby. That tells you what the home is likely worth, whatever the asking price says. Our post on how much over asking to offer in Toronto has more on reading the list price.

Watch out

If you pay more than a home appraises for, your lender may base the mortgage on the lower appraised value, and you must cover the gap in cash. RECO also warns that pre-qualifying for a mortgage does not remove the need for a financing condition, and that skipping a home inspection condition is a significant risk. Set your walk-away price before the offer night.

How do you protect yourself in a bidding war?

Get a full pre-approval at the stress-test rate, which is the higher of 5.25% or your contract rate plus 2 points.
Inspect before the offer date if you plan to go in without an inspection condition.
Read the status certificate or have your lawyer review it before offers for a condo townhouse.
Bring a solid deposit and keep extra cash for a possible appraisal gap.
Write down your maximum and stick to it.

My take

In 2027 most GTA buyers will not need to win a bidding war. They will need to negotiate well. If you do end up competing for a semi or a townhouse in central Toronto, the buyers who win without regret are the ones who did the work before offer night: inspection done, financing confirmed and a firm price ceiling. More tactics are in our guide on how to win a bidding war in Toronto.

What to do next

Check the latest sale-to-list ratio and days on market for the district or city you want.
Get a full mortgage pre-approval and confirm your budget at the stress-test rate.
Pull recent sold prices for similar homes before you trust any asking price.
For competitive listings, book an inspection before the offer date.
Decide your walk-away price in advance and share it with your agent.

Need help with this? Talk to me.

I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].

Book a free call Call 833-330-1925

Frequently asked questions

Are houses selling over asking in Toronto right now?

Mostly no. In October 2026, homes across the TRREB area sold for an average of 97% of list price, and City of Toronto homes for 98%. Some districts were exceptions: Toronto E01 averaged 106% and E02 104%, with homes selling in under three weeks. Semi-detached homes in Toronto averaged 102% of asking.

Will there be bidding wars in Toronto in 2027?

Likely in some pockets, but not market-wide unless conditions change. In late 2026 the GTA had four to five months of inventory and homes sold at 97% to 98% of list. Competition is most likely in spring 2027 for well-priced semis and freehold towns in central Toronto, especially if borrowing costs ease.

What is the average sale-to-list price ratio in the GTA?

It was 97% in October 2026 and 98% for January to October 2026, according to TRREB’s Market Watch. That means GTA homes sold slightly below asking on average. At the March 2022 peak, TRREB reported an average of 113%, with homes selling in about 8 days.

Which GTA areas have the most bidding wars?

In October 2026, the strongest competition was in Toronto east and west-end districts. TRREB reported average sale-to-list ratios of 106% in E01, 104% in E02 and 101% in E03 and W02. Regional averages outside Toronto ranged from 96% in Halton to 98% in Durham, so multiple offers were less common in the suburbs.

How much over asking should I offer in Toronto in 2027?

It depends on the district and the home type, not a fixed percentage. In October 2026, Toronto E01 averaged 106% of list, while C12 averaged 94%. On a $1,000,000 list price that is a range of $940,000 to $1,060,000. Use recent sold prices of similar nearby homes to set your offer and your maximum.

Can a seller tell me what other buyers offered in Ontario?

Only if the seller directs it. RECO’s rules say the seller decides what, if anything, to share about competing offers, and agents may disclose offer details only on the seller’s direction. The seller’s agent must tell every buyer who made a written offer how many competing offers there are.

Should I waive conditions to win a bidding war in the GTA?

Only if you have done the work first. RECO warns that skipping a home inspection condition is a significant risk, and that mortgage pre-qualification does not remove the need for a financing condition. In 2026 most GTA homes sold below asking, so many 2027 buyers can keep conditions and still compete.

Are semi-detached homes selling over asking in Toronto?

Yes, slightly on average. In October 2026, TRREB reported semi-detached homes in the City of Toronto sold for an average of 102% of list, with about 18 days on market. Across all TRREB areas, semis averaged 101%, the only major home type above 100% that month.

Is it a buyer’s or seller’s market in the GTA?

Buyers had the edge in late 2026. TRREB reported 4.6 months of inventory in October 2026, average selling prices down 2.7% from a year earlier, and homes selling at 97% of list. TRREB’s chief information officer said buyers had substantial negotiating power on price over the past year.