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‘Fewer signed contracts, fewer bidding wars’: A slowdown in Manhattan real estate may be a grim warning for the U.S. housing market

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‘Fewer signed contracts, fewer bidding wars’: A slowdown in Manhattan real estate may be a grim warning for the U.S. housing market Elevated prices and a cooling market are a double-edged sword for buyers and sellers in NYC, and across the country.

The median sales price for residential properties sold in Manhattan rose to a record high in the second quarter, up 10.6% annually to $1.

25 million, while the average sales price reached its third-highest on record, a report by property appraiser Miller Samuel Inc. and real-estate brokerage Douglas Elliman said this week.

 

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