1 week ago
Majority of homes in Toronto now selling below asking as real estate market tanks
It's been a pivotal few years for Toronto-area real estate, with fewer homes finding new owners than ever in recent memory, all while the market is inundated with tens of thousands of new listings that are sitting unsold for weeks.As unbelievably stressful as this period has been for sellers, realtors and developers, it has given aspiring buyers a serious leg up, with far greater selection and the newfound power to barter down prices.As such, more and more homes in and around the city are selling for under their asking price, a complete 180 from what was once the norm in a city known to be overvalued and popular for bidding wars.Imbalance between supply and demand in Toronto's housing market hits all-time record https://t.co/sMiSc6ejlx— blogTO (@blogTO) June 4, 2025The latest report on the trend, published by local agency Wahi on Thursday, shows that the market's downfall is still going strong, with more neighbourhoods now in "und...
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