February 6, 2007 -- The new year got off to a fast start, with 5,173 sales of existing homes in January, TREB (Toronto Real Estate Board) 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, up five per cent over December and up six per cent over 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."