Nearly 8 in 10 Toronto Homes Selling Below Asking

Toronto Market Shifts Toward Buyers

Toronto’s housing market is looking increasingly different from the bidding-war years. According to HouseSigma data reported by the Financial Post, 78.1% of Toronto-area homes sold below asking price in July 2026. The average home sold about 2.8% below asking, or roughly $23,000 less.

More Negotiating Power

The shift is even more noticeable in the higher-end market. Among homes priced above $2 million, 86.4% sold below asking, with an average difference of about 5.55%. Increased inventory means buyers generally have more choice and greater ability to negotiate.

A More Normal Market

Selling below asking does not necessarily mean homes are bargains. Asking prices are increasingly becoming genuine starting points for negotiation rather than deliberately low prices designed to trigger bidding wars.

What This Means for Homebuyers

A more balanced market can give buyers valuable time to compare properties, negotiate price and conditions, and arrange suitable mortgage financing before making a commitment.

Planning to buy or refinance? Contact Maurice to review your mortgage options and financing strategy.

Source: Financial Post, August 19, 2026