YEAR END REPORT 2016


Report on Contracts Signed
NYC Residential Properties
YEAR END REPORT
JANUARY 1-DECEMBER 25, 2016

1102 Contracts Signed

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

Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com