A Toronto home sold for nearly $1 million over its asking price last month, but real estate analysts say widespread bidding wars are not making a comeback in the Greater Toronto Area despite the eye catching sale.
According to a new report from real estate platform HouseSigma, the four bedroom renovated Edwardian residence at 20 Fenwick Avenue in North Riverdale was listed on April 14 at $1,999,000 and sold just six days later for $2,952,000. The $953,000 premium made it the largest dollar over bid in the GTA during April 2026.
Another notable sale saw a four bedroom property at 576 Gladstone Avenue, listed low at $699,000 and in need of renovations, sell for $1,058,000, which represents a 51.4 per cent premium over the asking price.
While the numbers are attention grabbing, HouseSigma cautions against reading them as a sign of a broader market shift. The report states that competitive pricing can still create a great result for the seller, but what it does not definitively do is suggest that widespread detached bidding wars are coming back. Right now, it is more of an exception to the rule.
The broader data paints a more tempered picture of the GTA housing market. There were 5,946 home sales through the MLS System in April 2026 across the Greater Toronto Area, an increase of seven per cent compared to April 2025, according to the Toronto Regional Real Estate Board.
However, the average selling price fell to $1,051,969, down 4.9 per cent compared to the same month last year. Detached home sales in the GTA rose 6.8 per cent year over year even as the typical detached buyer paid below the asking price.
The median detached listing price across the GTA was $1,200,000 in April 2026, down from $1,279,900 a year earlier, representing a 6.2 per cent decline in what sellers were willing to ask as a starting point. Attached and condo sellers followed a similar pattern, with median list prices for both categories falling about 5.5 to 5.8 per cent year over year.
Sale prices fell almost as much. The median detached sale closed at $1,200,000 in April 2026, compared with $1,275,000 in April 2025, a 5.9 per cent drop according to HouseSigma. Most buyers are continuing to negotiate below the list price, with the typical detached sale closing 2.86 per cent below asking in April.
At the other end of the spectrum from the Riverdale sale, a lakeside home in Oakville at 21 Ennisclare Drive East had the lowest under asking result in the GTA last month. The property was listed at $15.5 million but sold for $12.6 million. The deepest percentage discount was a three bedroom condo townhouse at 829 Richmond Street West in Toronto that sold for $530,000, more than a third below its $799,000 asking price.
For buyers and sellers in Durham Region, the data suggests the current market remains a negotiation friendly environment. HouseSigma advises buyers not to be afraid of offering below the asking price, noting that more than seven in 10 detached buyers paid below list in April, with the typical discount running about $32,500 below the asking price.
For sellers, the message is straightforward. Properties priced well still attract attention, but properties priced for a market that no longer exists tend to sit, experience price drops, and then sell below where a sharper initial price would have landed them.
