Prices soar in valley: bargain hunt and COVID-19 refuge sparks real estate boom

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In the Ottawa subway, the search for space took on a slightly different form. Chelsea Hamre, a sales representative for ReMax Affiliates Realty told this newspaper earlier that high-end properties with larger lots and home offices are selling well. New Edinburgh, Lindenlea, Beacon Hill and Rockcliffe Park all recorded year-over-year gains of over 33%.

The suburban district that includes Tanglewood saw the biggest increase – a nearly 71% rise in average prices to $ 556,500, based on a relatively small sample of 11 sales in the four months to July 31. .

The other big winners were the former urban districts of Stittsville ($ 716,900 on average – up 44%), Greely ($ 656,200 – up 36%) and Manotick ($ 739,300 – up 27%) .

In Gatineau, a similar drop in inventories also pushed up prices. The number of active listings in the second quarter fell nearly 40% year over year to 1,548 across the Outaouais, according to Centris, while the median home price single-family homes increased 11% to $ 290,000.

In Gatineau itself, the median price rose 16% to $ 285,000.

The recent emphasis on physical space does not mean that the condo market is drying up. Brokers point out that downtown units are taken by residents who want to avoid public transportation, or by seniors who may have to forgo their annual trip to Florida or Arizona and don’t want to be bothered by the traffic. ‘interview.

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