Seventeen contracts were signed last week at $4 million and above, wrapping up a year that saw an 18% decline in contracts over 2015. Year to date, 1102 properties had contracts signed totaling $8,937,866,862. The numbers are higher than 2012, but below the golden years of new condo development: 2013-2015.

The decline reflects classic price resistance. There was a 2% increase in the average asking price, but a 30% increase in the average days on the market