While home prices haven't exactly declined in the GTA, many properties continue to sell well below their initial listing prices in 2024, all thanks to a drop in interest driven by a lack of affordability. 

As highlighted in a recent Zoocasa report, many prospective buyers in the region are now taking advantage of this decline by submitting offers below a property's listing price and, in many cases, securing their dream home. 

Here are 10 houses in the GTA that recently sold for way below their asking price. 

35 Belcourt Road

With all its modern updates and historic charm, it's no wonder why this three-bedroom, two-bathroom Mount Pleasant home was recently listed for $1.739 million. Despite all its amenities and low-traffic location, the two-storey home was sold for $1.67 million, roughly $70,000 below its original asking price. 

Photo: Keller Williams Portfolio Realty, Brokerage.

54 Montrose Avenue

This Little Italy home boasts over 2,000 square feet of living space and $700,000 in renovations, with an electric fireplace, built-in shelves, and floor-to-ceiling cabinets. Initially listed for $2.39 million, the winning offer came in at $2.26 million, exactly $130,000 below its initial price.

Photo: RE/MAX Realtron Wendy Zheng Realty, Brokerage.

1447 Santa Rosa Court

Located in Mississauga's East Credit neighbourhood, this seven-bathroom home with a massive 96-foot front lot was recently listed just shy of $2.3 million. Despite its countless bedrooms, opulent sauna and steam room, and basement apartment, the home sold for $2 million after 23 days on the market. 

Photo: Shahid Khawaja Real Estate Inc., Brokerage.

1707 - 335 Rathburn Road West

As prospective buyers in the GTA continue to feel the pinch of sky-high home prices, more hopeful owners are opting to purchase condo apartments, which are much friendlier on the wallet. This two-bedroom, two-bathroom apartment in Mississauga recently sold for $24,000 less than its original asking price of $729,000. 

Photo: RE/MAX Realtron Victoria Group Realty, Brokerage.

50 Sunset Boulevard

Located just a 15-minute walk from Brampton GO station, this four-bedroom, three-bathroom home with quartz countertops and custom blinds was recently listed for $1.15 million. After 29 days on the market, the property was sold for $1.06 million, exactly $90,000 below its original asking price. 

Photo: RE/MAX Realty Specialists Inc., Brokerage.

1 Berringer Grove

It looks like many hopeful buyers found luck in Brampton this month, as this four-bathroom townhouse recently sold for $955,000, well below its original asking price of almost $999,900.

Photo: RE/MAX Gold Realty Inc., Brokerage.

11 Barnfield Crescent

Elsewhere in the GTA, prospective homeowners found luck in Ajax. This five-bedroom, four-bathroom home nestled right in the heart of Central East Ajax was recently sold for $1.35 million, exactly $125,000 below its initial asking price of $1.475 million. 

Photo: Royal Lepage Ignite Realty, Brokerage.

1204 - 2 Westney Road North

Some apartments in Ajax were also sold well below their asking prices in February. Just look at this three-bedroom, two-bedroom apartment, which was sold for $29,000 below its asking price at $670,000. 

Goldenway Real Estate Ltd., Brokerage.

58 Bernbridge Road 

Another hot spot for real estate deals this month was Markham, exactly where this three-bedroom, four-bathroom was sold for $120,000 below its asking price at $1.98 million. 

Photo: RE/MAX All-Stars Realty Inc., Brokerage.

229 Williamson Road 

Also located in Markham, this spacious home in the city's sought-after Greensborough community was initially listed for $1.349 million.

Photo: Home/Life Realty Ltd., Brokerage.

After less than two weeks on the market, a buyer scooped the home for roughly $70,000 less than its asking price.