If a single family Toronto home doesn't sell for over asking, did it even sell at all? That question might seem far-fetched, but in today's record-breaking real estate market, it seems like housing prices are going bonkers.

Yesterday, real estate website Wishpad released a report detailing how three-bedroom freeholds (detached single family dwellings) sold for an average of 8.8 per cent over asking across the city last year.

Wishpad also highlights five neighbourhoods where one-third of the freeholds for sale went for more than 20 per cent over asking, meaning that bidding wars are standard practice in these spots.

According to the Wishpad data, these neighbourhoods are:

Bathurst Manor

• Average list price for a 3-bed freehold: $996,427
• Average sold price for a 3-bed freehold: $1,211,775
• Per cent of listings sold 20% over asking: 46%

Parkwoods-Donalda

• Average list price for a 3-bed freehold: $992,931
• Average sold price for a 3-bed freehold: $1,175,400
• Per cent of listings sold 20% over asking: 38%

South Riverdale

• Average list price for a 3-bed freehold: $823,086
• Average sold price for a 3-bed freehold: $940,214
• Per cent of listing sold 20% over asking: 36%

Don Valley Village

• Average list price for a 3-bed freehold: $980,234
• Average sold price for a 3-bed freehold: $1,141,021
• Per cent of listings sold 20% over asking: 34%

Junction Area

• Average list price for a 3-bed freehold: $715,758
• Average sold price for a 3-bed freehold: $800,856
• Per cent of listings sold 20% over asking: 33%