In Toronto, when I was first looking at used bikes on Craigslist in 2007, the price was around $100 for a 20+ year old beater bike 10-speed. In 2008 I didn't notice much of a price jump. This year, prices have certainly jumped. However, the quality of bikes for sale has also increased as Craigslist Toronto has transformed from an online yard sale to a trusted way of selling high-end used (or new) items.
Have you noticed inflation in bike prices with the growing popularity of cycling in Toronto?