“These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said board president Pierre de Varennes in a statement.
Sales of freehold units fuelled much of the overall increase, with residential-class unit numbers jumping 38.9 per cent to 557 units.
Still, condominium sales played a significant role as well, with the category recording a 21.9-per-cent gain to 156 units.
While the sales increase was a little less dramatic than in the previous couple of months, it continues a recent streak of double-digit gains, as the local housing market recovers from the effects of the market downturn in the fall of 2008.
Mr. de Varennes added: “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low.”
The average price of a resale home across all categories rose 11.4 per cent to $320,966 in January, mostly because of a big spike in the selling prices of condominiums.
That category posted a 22.5-per-cent increase year-over-year, with condominium units selling for an average of $259,273.
The typically more expensive freehold market saw an 8.2-per-cent increase in average selling prices, to $338,244, the report noted.
