Toronto home sales on the Multiple Listing Service (MLS) during the first two weeks of  January, 2010 increased to 1,749 resales, up from 888 sales reported in January 2009.

The average price for these resale transactions for the GTA and Toronto was $395,307, up 19 per cent, compared to $332,349 reported for the same period in 2009. 

The Toronto Real Estate Board noted that the resale market started strong for 2010 and that the annual price growth will continue through the first quarter as sales remain high relative to listings and comparisons to last years Winter downturn will continue.

Toronto and Area Resale Summary of MLS Sales and Average Price:

• City Of Toronto 708 Sales $401,120 Average Price 2010; 369 Sales $350,835 Average Price 2009
• Rest of  GTA 1,041 Sales $391,353 Average Price 2010; 519 Sales $319,455 Average Price 2009
• GTA Totals 1,749 Sales $395,307 Average Price 2010; 888 Sales $332,495 Average Price 2009

Many Toronto and area home buyers remain confidant in their ability to purchase and pay for a home over the long term according to the Toronto Real Estate Board.