Home sales in the Toronto area are gradually increasing after a prolonged slump, but buyers still hold significant negotiating power. As of October, 88% of the GTA is in "underbidding territory," with 70% of homes selling for less than the asking price. Despite a decline in bidding activity, there are signs of renewed buyer interest, particularly with lower interest rates. Some neighborhoods show significant underbidding, while others have seen overbidding. The market may be at a low point for buyers, with expectations of future price increases.
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