Toronto Mls listings increased to 4,986 transactions in January 2010, a very large increase over the recessionary downturn of 2,670 sales in January 2009.

The Toronto Real Estate Board noted that last months Mls sales were slightly higher than the January average preceding 2009.

It was a rebound and sales climbed back to healthy levels across the GTA because of confidence in the Real Estate market and home ownership remained affordable.

The average Toronto and area home selling price climbed 19 per cent to $409,058 compared to January 2009.

Again the Toronto Real Estate Board cautioned  "Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009".

Active listing on the Toronto Mls were 12,052 in January 2010, down 41 per cent from the same month last year. That will surely put pressure on buyers with fewer listings to choose from.