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In January, 4375 sales were reported by GTA REALTORS® through the TorontoMLS system, slightly lower than the 4432 transactions reported in January 2012.

The average selling price was up by 4.3 percent from January 2012 – at $482648.

The Toronto Real Estate Board’s Senior Manager of Market Analysis, Jason Mercer, says that competition between prospective home buyers in the marketplace will contribute to rising home prices in 2013.

Source: Toronto Real Estate Board

So, what do you think ?