April brought a bit of a seasonal lift to the real estate market, with home sales ticking up compared to March. But when we zoom out and look year-over-year, things are still quieter than usual.

Here’s what you need to know:

• 📉 5,601 homes sold in April – that’s down 23.3% compared to April 2024.

• 📈 18,836 new listings hit the market – that’s up 8.1% year-over-year.

• 📊 On a seasonally adjusted basis, sales inched up from March – so some momentum is building.

What’s behind the slowdown?

Many buyers are still sitting on the sidelines, waiting for interest rates to drop and for the economy to feel more stable.

TRREB President Elechia Barry-Sproule added:

“If our trade relationship with the U.S. improves post-election, we could see more confidence and a stronger market.”

So while listings are growing and spring is usually busy, this year’s market still feels a bit cautious.

At UNNA Real Estate, building community isn’t just something we talk about – it’s something we live and breathe. That’s why we’re thrilled to be co-hosting Beach Tennis Community Day with our friends at Super Sand Sports!

📍 Where: Woodbine Beach, Toronto

📅 When: Saturday, May 11, 2024

🕙 Time: 10:00 AM – 2:00 PM

🎾 What to Expect:

• Intro to beach tennis (no experience required!)

• Free play, good vibes, and plenty of laughs

• Food, drinks, and fun in the sun

• A chance to connect with new faces in the community

Whether you’re a seasoned athlete or have never touched a racket before, this event is about coming together, trying something new, and celebrating what makes Toronto’s west end so special — its people.

🆓 FREE ENTRY with promo code UNNA

Simply RSVP at this link and use code UNNA during checkout to claim your free ticket.

We can’t wait to see you there!

Follow us on Instagram @unnarealestate for event updates, stories, and more behind-the-scenes fun.

Heads Up, Toronto Homeowners: The Vacant Home Tax Declaration is Due April 30

If you own property in Toronto, this is your friendly reminder: the Vacant Home Tax (VHT) declaration is due by April 30, 2025. And yes—even if you live in your home full-time, you still need to file.

The City of Toronto rolled out the VHT to help increase housing supply by discouraging properties from sitting empty. As a homeowner, it’s important to stay on top of this one—because missing the deadline could cost you.

What Is the Vacant Home Tax?

The Vacant Home Tax is a 1% annual tax on the current assessed value of any home that was left unoccupied for more than six months in the previous year (2024, in this case).

So if your home is assessed at $1.2 million and it’s considered vacant? That’s a $12,000 bill you don’t want showing up in your mailbox.

Who Needs to Declare?

All Toronto homeowners. Period.

 Whether your property is:

• Your principal residence

• A rental or income property

• An investment you’re holding onto

• Inherited or held in a trust

You must file a declaration with the City by April 30, 2025. If you don’t, your property could be automatically considered vacant and taxed accordingly—plus you’ll risk late fees and penalties.

How to File Your Declaration

It’s quick and online. Here’s how to do it:

1. Visit toronto.ca/vacanthometax

2. Grab your 13-digit roll number and customer number from your property tax bill

3. Submit the declaration—it takes less than 5 minutes

Are There Exemptions?

Yes! If your home was vacant but for a valid reason, you may qualify for an exemption. Some common ones include:

• Renovations with permits

• Owner in hospital or long-term care

• Recent death of the owner

• Legal issues preventing occupancy

• Property transferred during the year

You’ll need to provide documents to back it up.

Why It Matters

At UNNA Real Estate, we work with clients across Toronto—from first-time buyers to longtime investors. And as a team based right here at College & Ossington with Revel Realty, we keep a close eye on the policies that impact your property—and your wallet.

If you have questions about the tax, want to talk strategy for your investment property, or just need help interpreting your notice, we’re here for it.

📍UNNA Real Estate Group

Proudly based in Toronto’s west end | A part of the Revel Realty network

www.unnarealestate.com

📩 Let’s chat about your next move.

This article is intended for general information purposes only and does not constitute legal or tax advice. Please consult a professional for advice specific to your situation.

We’re back at it again with a review of Market numbers for the month of March. Let’s have a look at the numbers.

Today, the Bank of Canada made another significant announcement, reducing its key interest rate yet again. Bringing the rate down to 2.75%, it's now the seventh straight rate reduction since June 2024. This decision, seen mainly as a response to the newly imposed tariffs, could have a ripple effect on the real estate market—particularly for first-time home buyers who have been waiting for the right moment to step in.

Could This Be the Push First-Time Buyers Needed?

For many prospective homebuyers, high interest rates have been a major roadblock, keeping them on the sidelines as they watched home prices and borrowing costs fluctuate. Today’s rate cut may be the signal they’ve been waiting for. With the potential for slightly lower mortgage rates and increased affordability, we could see more first-time buyers re-entering the market in the coming weeks.

Spring is already a busy season for real estate, and this added incentive could make things even more competitive. If you’ve been considering buying, now might be the time to start exploring your options and getting pre-approved for a mortgage before more buyers step back in.

A Response to Economic Pressures

This rate reduction is a direct response to the economic impact of the new tariffs, as the Bank of Canada aims to stimulate growth and keep inflation in check. While this cut offers immediate relief, it also raises questions about what’s next. Could we see another rate reduction in April? Or will the economy stabilize, keeping rates steady for the remainder of the year?

What’s Next?

The next Bank of Canada announcement is scheduled for mid-April, and all eyes will be on whether another adjustment is coming. If this first cut leads to a surge in homebuying activity, the market could heat up quickly, making for an exciting and competitive spring real estate season.

At Unna Real Estate Group, we’re closely monitoring these changes and how they impact buyers and sellers. Whether you’re a first-time buyer looking to take advantage of this shift or a homeowner considering your next move, we’re here to help you navigate this evolving market.

Thinking about buying or selling? Let’s talk! Contact us today to discuss your real estate goals.

We’re back at it again with a review of Market numbers for the month of February. Let’s have a look at the numbers.

We’re back at it again with a review of Market numbers for the month of January. Let’s have a look at the numbers.

Thinking about renovating your home but unsure if it's worth it? You’re right to contemplate and take your time on this decision. Some people believe that spending 20 or 30k on a renovation will bring them 20 or 30k in increased property value. That might not be true. 

Renovating a property can increase its value and bring more comfort, but youve got to be smart on what you are renovating and how much you spend. It also requires planning and investment. 

Before deciding on a renovation, it's important to assess the current state of the property and identify which improvements are truly necessary. Structural repairs, such as addressing leaks or outdated electrical systems, should be prioritized, while aesthetic changes can be made gradually.

There's no point in spending a ton of money on a new bathroom when the rest of your home is falling apart… get what we mean there. Concentrate on the absolute musts first.

Additionally, consider the impact of the renovation on the property's value. 

If you plan to sell or rent out the property in the future, a well-done renovation can significantly boost its market value. We sometimes visit our client's homes or chat about their plans for renovations to help give our input on the future impact of the value of the home.

Calculating the costs involved and determining if the financial return justifies the investment is crucial. Think long-term, explore alternatives, and, above all, find the balance between need and cost. Make the right choice to transform your home!

The city of Toronto has launched their 2025 Budget on Monday January 13 and there's some information that Toronto Home Owners Should Know!

Overall the city outlines that it plans $18.8 billion in proposed spending on city operations this year. The budget reflects her priorities of spending more on transit, housing, emergency services and social programs.

Although there will be a lot of spending on transit and low income housing, it seems like the biggest change in revenue will come from Homeowner's Pockets.

The budget includes a 6.9 per cent tax increase, consisting of 5.4 per cent to fund city operations, and 1.5 per cent for the city building fund.

Last year the city of Toronto Raised Property tax by 9.5 per cent.

To find the full 2025 City Of Toronto Budget HERE