The January real estate market started 2010 at full gallop, with sales up 87 per cent from the year before, according to figures released today.

There were 4,986 existing home sales in January, compared to 2,670 sales the year before when sales hit an all-time low for the month, according to a report by the Toronto Real Estate Board.

“The Greater Toronto Area home market has rebounded well from the lows in sales experienced at the beginning of 2009,” said Tom Lebour, president of the board.

Helen Morris,  National Post

Home prices in Toronto are almost back to where they were before the financial crisis hit. Prices in September rose 1.5% from August, according to this week's Teranet–National Bank House Price Index.

It was "the smallest increase since the April bottom, but still substantial," notes report author Marc Pinsonneault, senior economist, economic and strategy team, National Bank Financial Group, in a release. "If October shows the same rise, Toronto prices will be back to their peak of August 2008."

Toronto Real Estate Brothers Create “One-stop Online Shop” for Toronto Real Estate Buyers and Sellers

Provencher Brothers Create “One-stop Online Shop” for Toronto Real Estate Buyers and Sellers RE/MAX agents, Dylan and Sean Provencher launch state-of-the-industry website, with user-friendly guided search through up to 800 active listings.