Housing Market slow down - Prediction

[Jordan Josh]

Hello ,

I am trying to buy property in Montgomery County MD but seems market is really hot and houses are selling like anything. Most of the the time people are paying 25k to 35 k above asking price and getting home. So asking price already high and top of that people are paying premiums. I understand interest rate is low but is it good idea to pay approx. 50k more on a house ?  it removes the benefit of low mortgage rate. 

Any one has any idea prediction when the market will slow down ? 

Jordan