…Housing prices in the third quarter were up
sharply from the same period last year, but
experienced a seasonal decline from the spring
market activity of the second quarter. There were
30 sales above the five million dollar threshold,
nearly three times the 11 sale total in the prior
year quarter. Median sales price increased 12%
to $700,000 in the third quarter from $625,000
in the prior year quarter, but declined 8.6% from
$766,250 in the prior quarter. Average sales
price followed the same pattern, rising 14% to
$1,452,678 in the third quarter from $1,273,775
in the prior year quarter, but falling 4% from
$1,513,636 in the prior quarter. The fourth and
fifth market quintiles posted year-over-year gains
in median sales price, while the lower three
segments showed declines…