Sales of resale homes in the Greater Toronto Area have risen a dizzying 8.2 per cent in January from a year earlier, says the Toronto Real Estate Board. The total number of transactions was 4,572. Average prices climbed 14.1 per cent, while the MLS home price index revealed an increase of 11.2 per cent. The 905 factor taken alone is even more remarkable. The average price for a detached home in the city, or 416 area code, rose 11.6 per cent, but surged 20.9 per cent in the 905 region. Percentages aside, total price tags were higher inside Toronto, an average $1.06-million in 416, compared to $783,565.
