what a roller coaster!

During today's lunch time, some co-worker said that one house was asking for 2 m and was sold for 2.5 m in his neighborhood during spring. One month later after that sale, similar house was asking for 2.2 m and no offer. It was reduced to 2.1 m and still on market. It is the beginning of the end for bay area's hot housing market? Or it will  rebound during next spring just like last few years?