With 4,587 closed transactions in January, existing-home sales in Toronto, Canada, grew 10 percent from a year earlier and marked the second-best January on record, the Toronto Real Estate Board announced today.

There were 4,153 home sales recorded in January 2005, TREB reported.

“Overall, this is a very encouraging performance for this time of year,” said TREB President John Meehan. “Last year finished as a record, so to be ahead of that pace early on shows that the market has a lot of stability heading into the busier spring months.”

Some specific neighborhoods that performed strongly in 2005 continued to perform well in January, demonstrating high levels of activity in comparison to January of last year. These included:

  • In the Junction/High Park area of Toronto, 55 percent more overall transactions took place during the month than did in January of the year before.

  • Detached homes were the most popular housing type in Willowdale, as the area showed 68 percent more overall transactions than in January 2005.

  • In Markham South, link homes represented half of all transactions, as the area showed 32 percent more overall activity compared to a year ago.

The median home price in the Greater Toronto Area last month was $288,200, up 4 percent from a year ago.

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