Gatineau house prices in first months of 2017 grew faster than Ottawa market

Jean-Marc Leger April 15, 2017 0
Gatineau house prices in first months of 2017 grew faster than Ottawa market

Prices for single-family homes in greater Gatineau jumped seven per cent in the first three months of 2017 compared to the same period a year earlier, according to a report published Thursday.

This brought the average price to $266,650 for the quarter, according to the report by Centris, the technology arm of the Greater Montreal Real Estate Board. The gain reflected greatly increased activity in the Gatineau region as the number of single-family homes sold in the first quarter surged 22 per cent year over year to nearly 800.

Home prices in Gatineau remain significantly below those of Ottawa, where the average price for a single-family dwelling was $411,220 in the first quarter — up a comparatively modest 5.5 per cent compared to the same period a year earlier. The number of units sold in Ottawa approached 2,500 during the first three months of 2017, up 17.5 per cent year over year.

Centris, which gathers data from Quebec real estate brokers, reported plenty of variation in house prices across greater Gatineau.

The sharpest rises occurred in the districts of Hull and Buckingham/Masson-Angers where single-family homes sold for 12 per cent more than they did during the first quarter of 2016. The new average in Hull is $302,300 while homes in Buckingham/Masson-Angers sold for an average of $185,179.

In between these two districts, in the Gatineau sector, prices for single-family homes averaged $240,350 during the first quarter, up just two per cent from the same period a year earlier.

In Aylmer, single-family houses sold fetched 10 per cent more than during the first quarter of 2016, producing an average sale price of $305,500.

 

Article written by James Bagnall on the Ottawa Citizen Website. Follow the link to the original article here.

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