Market cool-down?

I’ve previously written about 56 Winthrop Drive in Riverside that was listed for $8.395 million last month and went pending in 5 days. Now, Brother Gideon sends along this update:

“a broker I know bid $9.2M for this place and later learned she was in 4th place.”

That such a low-ball bid could still rank as high as fourth in a contest for this property is sure evidence that prices are weakening, finally.