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

First, the good news.

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.

“The…