Luxury homes in Miami 12.1 percent more expensive than average

Measuring where the nation’s luxury market saw declines, Redfin identified the top tier of the market as the most expensive 5 percent of homes. As a nation, the bottom 95 percent of homes grew in price by 3.8 percent in the third quarter of 2015 compared with last year, whereas the luxury market dipped by 2.2 percent.