The Toronto Real Estate resale market registered a strong year-over-year sales growth in January, 2010. Just a year ago the Real Estate market had 2,670 sales but that changed to a healthy 4,986 sales for January 2010.
Active Toronto resale listings were down 41 per cent resulting in upward pressure on the average price that reached $409,058.
The Toronto Real Estate Board sees an increase in resale activity in the first half of the year with a record number of transaction in the first quarter.
For the second half of 2010 the Toronto Real Estate Board sees moderation with lower sales.
Residential Real Estate in Toronto should be a good year for the following reasons:
- Improving consumer confidence
- Economy continues to grow
- Six straight month of Job growth in January
