Price Check: “Trying to spark bidding wars can backfire today”

The average GTA selling price this past March was down 6.7 per cent compared with March of 2025, drawing more buyers back into the market. Selling agents say that listings are still sitting longer than usual, with more back-and-forth during negotiations than a year ago. There are deals to be found, but sellers can still come out ahead if they have well-maintained properties in coveted neighbourhoods. Here, three different agents break down why they sold three very different homes for $1.5 million.

Related: “This is the ideal moment for first-time homebuyers to pounce”

The Beaches: A two-storey detached with a stand-alone garage

Listed for: $1,399,000 Sold for: $1,475,000 Date sold: March 14, 2026 Bedrooms: 3 Bathrooms: 2 Size: 1,208 square feet Parking spots: 1 Real estate agent: Amanda Rix, Royal LePage Estate Realty

“Perched on top of a hill, this Beaches home had a fabulous view of the lake, which is just a five-minute walk away. It was built in 1931, so it’s not a fit for buyers seeking a more modern, renovated space. In early March, we listed right around market value at $1.4 million, confident that its character and location would attract strong interest.”

“Sure enough, the showings were busy, and we ended up with 60 visits. After 10 days, we found a buyer who loved the property’s original charm. They submitted an offer, and after some talk, we settled at $1,475,000—about $75,000 above our list price.”

“For buyers, it’s a fantastic time to get into the market. We’re seeing a lot of people return after being priced out for years. And they have the leverage to take their time: include conditions, run inspections and negotiate. A few years ago, a home like this might have sold in under a week, but this time it took a few extra days to land on the right price. Sellers need to be patient and prepared for that. The good news is that strong properties are still commanding great prices. I’ve recently sold several other homes over asking.”

Mount Pleasant East: A renovated semi on a charming cul-de-sac

Listed for: $1,445,000 Sold for: $1,416,000 Date sold: March 16, 2026 Bedrooms: 3 Bathrooms: 2 Size: 1,100 square feet Parking spots: 1 Real estate agent: Griffin Baker, Chestnut Park Real Estate

“The biggest appeal of this listing was its 56-metre-deep lot, situated down the street from the ravines of Sherwood Park. It also came with convenient front-pad parking—a rarity in midtown—along with a renovated interior. Strategically, we priced it closely with comparable properties, including a nearby three-bedroom semi that I had helped another client purchase. Based on that, my clients determined that a selling price of $1,445,000 was fair, and we brought it to market in the first week of March.”

“The listing saw strong engagement: 31 showings in two weeks. We were helped by unusually warm weather during the open house weekend, which drove significant foot traffic as many buyers were already out enjoying the park. That momentum translated into two competitive offers. On March 16, we sold the home for just $29,000 shy of our asking price.”

“In today’s market, buyers are placing greater emphasis on houses in established locations that offer long-term value. This home checked all the boxes, with its proximity to top schools, parks and public transit. That meant it was always going to attract serious folk. Still, getting full value as a seller requires careful planning and research. Neglecting market data and trends risks leaving money on the table.”

Dovercourt–Wallace Emerson–Junction: A red-brick Victorian built in 1905

Listed for: $1,288,800 Sold for: $1,490,000 Date sold: March 27, 2026 Bedrooms: 3+1 Bathrooms: 3 Size: 1,100 square feet Parking spots: 2 Real estate agent: Sandra Torres, RE/MAX West Realty

“This two-storey west-end classic had been owned by the same family for 32 years. It was fully renovated and came with a large covered patio out back. But its standout feature was its versatility: the home had two self-contained units that could easily be converted into a single-family residence. A previous agent had advised my client to list low, at $1.1 million, to spur a bidding war. But, in today’s buyer’s market, I instead recommended listing closer to expected value, around $1.3 million. On March 19, we went to sale at $1,288,800.”

“Our team had a busy open house and 24 showings over the course of a week, which is strong activity for this time of year. In the end, we received five offers, including three over asking that were relatively close in price. I gave all five bidding agents the opportunity to submit improved offers in a second round, and the buyer we chose purchased for $1,490,000—$200,000 above asking.”

“There’s a lot of demand these days for homes that support intergenerational living, and in this case, the buyer was motivated to pay a premium to live with their parents. When you have a great property, it can be tempting to list low to generate more offers. But underpricing can backfire if the economy shifts suddenly. That’s why I prefer a more balanced approach: listing slightly below market value to attract interest while still setting clear expectations for everyone involved. It’s a method that has proven effective in this landscape.”

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