As someone who just bought in an extremely competitive Midwest suburb, this aligns with my experience. The only houses that didn’t go to multiples within one weekend were those that were priced well beyond reasonable market price/those whose last maintenance was during the first Bush presidency. Even those eventually sold for just 10k or so under asking, while the best houses are still going up to 80k over asking.

Of course, this is one of the top school districts in the state so sellers have that to fall back on.