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by CareyBot

The Toronto Real Estate Board reported today that sales activity reached 4,153 in January. The total volume of sales, in U.S. dollars, was $1.08 billion in January, the board reported. In U.S. dollars, the average price of homes in the Toronto area was $260,052, climbing two percent since December, when the average price was $253,686. The January 2005 average price was also 9 percent above January 2004. In 1995, the average price of a home in the Toronto area was about $164,871 in U.S. dollars. "Although it is very early in the year, these price figures do provide a clue as to how 2005 will work out," said Ron Abraham, president for the Toronto board. "Once again, we will probably experience the same moderate, sustainable, single-digit price increases that have been the norm for the pa...