Toronto Realtors reported positive results of 3,555 resales through the Toronto MLS for the first two weeks of February.

The resales represented a 74 per cent increase from the same period a year ago. It should be noted that the first half of 2009 had resales much lower due to the recession.

The average Toronto and area  home price for the mid-month transactions in February was $429,997, an 18 per cent increase over 2009 showing home ownership demand still remains strong in the greater Toronto Real Estate market. 

The Toronto Real Estate Board predicts "Double-digit price increases will persist through the first quarter of the year," but as new listings increase the annual rate of average prices should moderate to single digits