Toronto’s hot neighbourhoods still attract over-asking bids

With the average home price in the GTA down since last year, Toronto’s market is largely a buyer’s market. But while three-quarters of neighbourhoods in the GTA are underbid, there are still a few hot areas that tend to go above the asking price.

Experts say this phenomenon comes back to location and affordability. Cozy, semi- or fully detached character homes in the top five overbid neighbourhoods of Little Italy, Davenport, St. Clair West, The Danforth and The Junction remain relatively affordable at around $1.3-million to $1.8-million. They also benefit from being near great school districts, transit, restaurants, nightlife and amenities.