As demand for homes in the Greater Toronto Area nearly doubled in February, compared to the previous month, a similar trend occurred in Durham Region. The region had more than double the number of neighbourhoods with homes selling above list price compared to the previous month.
Despite a 28.5 per cent drop in overall home sales in the GTA in February, 46 per cent of Durham Region neighbourhoods were in overbidding territory, up from 22 per cent in January. An additional 8 per cent were selling at asking, unchanged from January, while 46 per cent were selling under-asking.
The Top-5 Overbidding Neighbourhoods in February 2025
Seventeen of the 37 neighbourhoods were in overbidding territory last month in the Durham Region. Two of the five most overbid neighbourhoods were in Ajax, two in Whitby, and one in Pickering. West Shore, Pickering, was the most overbid neighbourhood with a median sold price of $907,500 and a median overbid amount of $95,051.
When a neighbourhood is in overbidding territory, it doesn’t necessarily mean that every home is selling above list price. Instead, it’s a general reflection of overall market behaviour, which can be influenced by seasonal factors, for example, or decisions by sellers, such as to list homes below market value to attract more bids.
The Top-5 Underbidding Neighbourhoods in February 2025
The five most underbid neighbourhoods in February were scattered across the region. The neighbourhood of Uxbridge was the most underbid with a median sold price of $1,130,000 and a median underbid amount of -$30,000.
Generally speaking, the more active listings in a particular neighbourhood, the more underbidding there can be because buyers have more bargaining power. The number of active listings makes competitive pricing more essential when selling a property.
At the end of each month, Wahi compares the differences between median list and sold prices to determine whether neighbourhoods are in overbidding or underbidding territory, excluding those neighbourhoods with fewer than five transactions in a given month. In February, there were 37 Durham neighbourhoods where there were at least five home sales. The top overbidding and underbidding neighbourhoods are ranked by the median overbid or underbid amount. The median overbid and underbid amounts are calculated by subtracting the list price from the sold price of each individual listing in a given neighbourhood. These are then ranked by the median of all subtractions and presented as the median overbid or underbid amount.
Note: Benjy Katchen is the CEO of Wahi, a digital real estate company that redefines the homebuying experience by putting more power into consumers’ hands. By combining cutting-edge tech and market data with expert realtors, Wahi offers unmatched access to insights, tools, and the team that makes buying a home faster and easier.
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