Homes sales of 4,986 were recorded for the first month of this year, an impressive 87 per cent increase over the 2,670 Mls sales of January 2009.

We have to remember that 2009 figures were very low when homes and Condos were in a deep recessionary trough.

However these new home sales results point to the fact that this Real Estate market in Toronto and Area has returned to healthy levels.

Last months sales results were slightly higher than the January average in the five years preceding 2009.

The average price for a Toronto and Area resale home was $409,058, an increase of 19 per cent from the same month last year.

The Toronto Real Estate Board stated "Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009."

Toronto Mls Listings were much lower with active listings of 12,052 for january 2010, down 41 per cent from just a year earlier.