Over Asking: “Pricing at market value may hurt your chances.” How three realtors sold for more

Toronto home sales rose by 9.4 per cent year over year in June while new listings fell by 12.9 per cent, tightening the nascent summer market. Standing inventory is being absorbed, which means that competition has intensified in the city’s most established and desirable neighbourhoods. In those particular pockets, realtors are successfully inciting bidding wars to maximize sale prices, defiantly pushing their properties against the broader trend of declining values. Here, three selling agents representing three very different homes explain how they managed to sell above asking.

Greenwood-Coxwell: Parkmount Road

The place: A semi with a second-floor deck and laneway opportunities out back Listing price: $1,099,900 Sold for: $1,412,000 Date sold: June 2, 2026 Bedrooms: 3+1 Bathrooms: 3 Size: 1,228 square feet Real estate agent: Ian Blakey and Geoffrey Grace, Grace and Co. Real Estate Team

Ian Blakey: “The open-concept main floor and powder room were major selling points, as was the rear parking. The laneway is actually a city road, so it gets plowed in the winter, which is a real bonus.”

Geoffrey Grace: “We priced the home below market value to create a bidding war. We don’t always use that strategy, but we believed that the property was appealing enough. Our team had also recently sold a similar home in the Beaches for over asking using the same approach. On May 26, we listed it at $1.1 million and set an offer date for the following week, hoping to sell for around $1.4 million.”

Blakey: “We held open houses over the weekend to give potential buyers enough time to tour the place and prepare for the offer date. In total, we had 38 confirmed showings, and another 19 parties attended the open houses.”

Grace: “On the June 2 offer date, we received seven bids, so we knew our strategy had worked. The home ultimately sold well above asking, just as our Beaches listing had.”

Blakey: “Prices tend to soften in the summer, so buyers can find some opportunities right now. My advice is to make a serious offer if you find the right house, because you may get a better deal than you would in the fall.”

Grace: “On the seller side, we’re having serious conversations with anyone considering listing right now. Is there a real reason you need to sell this summer? Or would it make more sense to wait for the market to pick up in September? Toronto real estate is highly seasonal, so sellers need to weigh the pros and cons of listing now versus hitting pause and re-entering the game later.”

High Park–Swansea: Kennedy Avenue

The place: A two-storey freehold townhouse with 10-foot ceilings Listing price: $1,099,000 Sold for: $1,230,000 Date sold: June 3, 2026 Bedrooms: 3 Bathrooms: 2 Size: 1,500 square feet Real estate agent: Renee Proulx, Ingrid Smith and Dave Proulx, Smith Proulx Real Estate Team

Renee Proulx: “The real appeal of this listing was its location in Swansea, close to Bloor West Village. And although it was a row house, it was deceptively large, with about 1,500 square feet above ground, which is a good size even for a detached. The main drawback was the property’s reliance on street parking. Our pricing strategy always depends on what is happening across the landscape at that exact moment, and in this case, we decided to list below market value to attract multiple buyers. It went live the final week of May at just under $1.1 million, with an offer date set for the following week.”

“Over the course of the week, we saw a lot of traffic: 50 groups came through the open house, and we had about 40 private showings. On the June 3 offer date, we received seven offers and sold the home for $1.23 million—$131,000 over asking.”

“Counterintuitively, pricing a home at or near market value can generate less interest these days. Had we listed this property closer to its true value, we likely would have received fewer bids. But a bidding-war strategy still has to land in the Goldilocks zone: low enough to attract buyers but not so low that reaching the property’s true worth feels unrealistic.”

Briar Hill–Belgravia: Whitmore Avenue

The place: A renovated semi with a big covered back deck Listing price: $899,000 Sold for: $1,005,000 Date sold: June 12, 2026 Bedrooms: 3+1 Bathrooms: 2 Size: 1,100 square feet Real estate agent: Chris Marrelli and Marco Lupusella, Keller Williams Empowered Realty

Chris Marrelli: “This was a great 84-year-old home in Belgravia, a neighbourhood that has become more desirable since the Eglinton Crosstown opened. It was somewhat difficult to price because there aren’t many semis in the area, so we looked at overall buyer activity nearby. A detached home just down the street attracted more than 30 showings and nearly 10 offers in a week, which told us house hunters were there. Based on that demand, our team believed that an underpricing strategy could do well for us, so we listed at $899,000 in late May.”

“After two weeks on the block, we had 26 showings and received one offer. The home needed about $10,000 in basement plumbing repairs, so the buyer and our client agreed to account for that in the final price. On June 12, the property sold for just over $1 million—$106,000 above the list price.”

“When we went to market, there were only a few other properties available in Belgravia, which helped us. In other areas, you might see 15 or 20 similar homes competing for the same buyers. Too much choice can make house hunters more selective or leave them with decision paralysis. Before choosing a pricing strategy, sellers should consider how saturated the market is and whether comparable homes are attracting traffic. If there’s too much competition, underpricing for an offer night may not be the right approach.”

Are you an agent who recently sold for over asking? Send your story to realestate@torontolife.com.