The new year got off to a fast start, with 5,173 sales of existing homes in January, TREB President Dorothy Mason announced today.

“This figure is up 13 per cent over last January, and up six per cent over the 4,869 sales recorded in January of 2002, which was the previous record for the month.” Meanwhile, average prices climbed in January to $353,724, up five per cent over December and up six per cent over the $332,687 recorded in January 2006. “While one shouldn’t read too much into a single month’s result,” the President said. “January’s record breaking performance is an encouraging sign for the year ahead.”

Breaking down the total, 1,975 sales were reported in TREB’s 28 West districts and averaged $335,116; 878 sales were reported in the 14 Central districts and averaged $462,211; 1,082 sales were reported in the 23 North districts and averaged $383,806; and 1,238 sales were reported in TREB’s 21 East districts and averaged $280,178.

Click to view Residential Market Update – January 2007