The Toronto Real Estate Market showed lower home sales for the month of January 2009.

The Toronto Real Estate Board reported a total of 2,670 sales in January compared to 5,075 sales in the first month of 2008.

Toronto home prices also declined to an average of $364,415 in the city of Toronto compared to $404.202 last year.

With more choice in the Toronto Real Estate Market , buyers are experiencing lower selling prices.