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
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This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.
Source: Olshan Realty
QUICK STATS
for the week of
YEAR END REPORT 2016
Total Weekly Asking Price Sales Volume: 131,230,000
Average Asking Price: 7,719,412
Median Asking Price: 7,250,000
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 430
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