Heard a realtor say bidding wars are cooling off in Kitchener

I was at a coffee shop and overheard this agent talking on the phone about how houses in Kitchener are sitting for two weeks now instead of two days... She said sellers are having to adjust their asking prices. Anyone else noticing this shift in your area?

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grant.jade10d ago

Oh I totally get why you'd think that, but I actually see it a bit different. That line about houses "sitting for two weeks instead of two days" isn't really a cooling off, it's more like going from crazy to still pretty hot. Two weeks is still super fast in normal market terms, you know? I've been watching listings in Kitchener pretty closely and the bidding wars are definitely less insane than last year, but decent houses under a million are still getting multiple offers. The ones that sit are usually overpriced or need a lot of work. Sellers adjusting prices just means they were dreaming too big, not that the whole market is crashing. I'd call it more of a leveling out than a real cool down.