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

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

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.