Seems to be a trend of high end properties selling for under asking price of late.
This would appear to run contrary to the accepted narrative of an upward only frenzy out there.
I’ve heard of a number of mid range places being bid to well over asking but you’d have to wonder whether this will continue.
I wonder is it possible that there may exist a number of separate market segments existing independently of each other and rarely to never intersecting.
Otherwise, there would surely have to be some degree of cross over at some point
There does seem to be a trend developing as you say but I think it is too early to say it will continue. If those middle rangers achieved more than expected then they will be able to increase bids on their next property (assuming they are trading up). I am noticing now also a noticeable increase in supply. Can this increase continue I wonder?