The latest Royal LePage House Price Survey and Market Survey Forecast shows home prices in Waterloo Region are up over eight per cent in the second quarter of the year.
The average price is just under $486,000.
Here is the breakdown by housing type:
- the median price of a standard two-storey home increased almost nine per cent year-over-year to over $515,000
- the median price of a bungalow rose 6.2 per cent to over $443,000
- the median price of a condominium rose 5.1 per cent to over $287,000
"While prices are up across all housing categories year-over-year, the rate of appreciation has slowed compared to last quarter's double-digit year-over-year gains." said Keith Church, broker and owner, Royal LePage Grand Valley Realty.
"We are beginning to see a shift towards a balanced market where sales and prices are more stable," added Church.
Royal LePage expects local home prices to increase at a steady rate in the third quarter.