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» VISIT US ONLINE @ DSNEWS.COM 95 lion in the third quarter. e average price for the bottom 95 percent of homes was $343,000, up 3.6 percent in the third quarter compared to a year earlier, but the growth rate was down from 5.1 percent in the second quarter. e vagaries of the stock market were one of the key reasons that had kept homebuyers for luxury properties away from the market, according to Daryl Fairweather, Chief Econo- mist at Redfin. "e stock-market fluctuations that began last quarter likely caused some uncertainty among wealthy individuals, which has made luxury buyers more sensitive to price," she said. "e swings many people have been watching in their stock portfolios have only grown more frequent in recent weeks, so we expect this trend of slowing luxury home price growth to continue at least into the end of the year." Looking at contract signings on luxury homes, the report indicated that they went under contract after an average of 65 days on the market, a decrease of eight days from the same period last year. San Jose, California led the cities where luxury homes sold the fastest with an average of 19 days on the market, followed by Ashburn, Virginia at 23 days; Oakland, California (28 days); Seattle, Washington (29 days); and San Francisco, California at 44 days. e report revealed that cities in Florida and Nevada saw the largest gains in luxury home prices in the third quarter. e growth in average sales price was the most in West Palm Beach, Florida where the average sale price of luxury homes shot up 54.5 percent over last year. In Reno, Nevada, luxury home prices increased by 29.6 percent as more buyers from the Bay area looked at properties in this area, while they increased by 26 percent in Boca Raton, Florida. ADVERTISING INDEX RES.NET 53 Sagent 3 Safeguard Properties Inside Front Cover Selene Finance 54 Single-Family Rental Summit 33, 65, 79 NORTHEAST Coldwell Banker Residential 78 Home Alliance Realty 78 Planet Realty 78 MIDWEST MReport 85 SOUTH Continental Realtors 88 Real Estate Opportunities Inc 91 Virginia Capital 91 WEST Essex Harvey & Freeman 94 NATIONAL Auction 1 Altisource 50 American Mortgage Diversity Council 55 CRFS 51 DS News 27, 89, 91 Five Star Academy 69 Five Star Calendar 36-37 Five Star Conference and Expo 45 Five Star Diversity Symposium 31 Five Star Fintech Summit 33, 73, 83 Five Star Government Forum 19, 21 Guardian Asset Management 7 Havana Nights 23 Home Depot Back Cover JMA Outreach Solutions 13 LOGS Legal Network 16-17 Legal League 100 42-43 Legal League Spring Summit 48 M&M Mortgage Services Inside Back cover Nationwide Title Clearing Belly Band, 52 National Field Representatives 27 is the anticipated rise in median home values in California this year. Source: Zillow Home Prices and Values STAT INSIGHT 7.6%

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