Housing prices increased for the eighth
consecutive quarter, setting a new record for the
fifth time in the past 6 quarters. Median sales
price was up 4% to a new record of $587,515,
8.8% above the pre-financial crisis record set 7
years ago. Year-to-date median sales price was
up 2.9% over the same period last year. Average
sales price increased 4.5% to $726,100 over
the same period. Luxury market housing prices
were in sync with the overall market. The entry
threshold of the luxury market, which represents
the top 10% of all sales, was $1,375,000 this
quarter. Median sales price was $1,790,000,
5.3% above the prior year quarter. Average
sales price increased 4.2% to $2,074,286 over
the same period, marking the third time the
$2,000,000 threshold has been reached…