February 2025 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

February may be short, but it’s full of possibilities—especially in real estate!

Whether you’re eyeing your dream home, thinking of selling, or just curious about the market, we’ve got the latest trends and tips to keep you ahead.

Grab a warm drink and let’s dive into another Real Estate update for February 2025.

What We Are Seeing From the Field

Is that excitement in the air?

Every January, we feel a fresh wave of energy as buyers and sellers gear up for the year ahead—and 2025 is no exception!

We’ve already seen a surge in demand for freehold homes (detached, semis, and row houses), especially those that are renovated and checking all the right boxes. Many of these homes are selling quickly and in multiple offers, thanks to low inventory and eager buyers.

If you’ve been considering a move this year, let’s set up a chat to formulate a plan to help you capitalize in 2025.

Check out the January year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

Looking For Things To Do In Toronto This Month?

Here’s just a few activities to enjoy with your loved ones

  1. Family Day Activities
  • Date: February 17
  • Location: Various locations
  • Details: Celebrate Family Day with a range of activities, including free ice skating at Nathan Phillips Square, special exhibits at the Royal Ontario Museum, and family-friendly workshops at the Art Gallery of Ontario.

https://www.toronto.ca/explore-enjoy/festivals-events/family-day/

  1. Toronto Black Film Festival
  • Dates: February 12–17
  • Location: Various venues
  • Details: Celebrate Black History Month by attending screenings of films from around the world, panel discussions, and special events highlighting Black culture and talent.

https://torontoblackfilm.com/

  1. Winterlicious
  1. Canadian International AutoShow
  • Dates: February 14–23
  • Location: Metro Toronto Convention Centre
  • Details: Experience Canada’s largest automotive showcase featuring the latest vehicles, concept cars, and interactive exhibits.

https://www.mtccc.com/single-event/auto-show-2025-total-immersion/

  1. Winterfolk Blues and Roots Festival
  • Dates: February 14–16
  • Location: Multiple venues along the Danforth
  • Details: Enjoy a weekend of live blues, roots, and folk music performances by local and international artists in cozy indoor settings.

https://www.winterfolk.com/

Vacant Home Tax – Don’t Forget To Declare!

Toronto homeowners, it’s that time of year again! The Vacant Home Tax (VHT) declaration deadline is fast approaching, and even if you live in your home, you still need to file (don’t forget any rental properties)!

Failing to make the declaration by April 30th could result in penalties or even having your home mistakenly classified as vacant, leading to an unexpected tax bill. Yikes!

The tax is now 3% of your current assessed tax value, so if your home was assessed at $800,000 you could be on the hook for $24,000 in tax!

*Keep in mind that MPAC generally uses an assessed value much lower than what your home is actually worth – this info should be on your final tax bill.

Not sure how to complete your declaration? No worries—we’ve got your back! Whether you need a quick rundown on the process or have questions about how the tax might affect you when selling, we’re here to help. Reach out anytime, and let’s make sure you avoid any unnecessary surprises.

We’re Here To Help!

As always, we would be happy to help you and any of your friends, family, colleagues, or neighbours with real estate services or advice. If you can think of anyone who could use our help, feel free to make an introduction! We promise we’ll make you look good ?

Cheers!

Chris and Ford