Will prices of older Fujifilm cameras balance out when they normalize distribution of newer cameras?

I think it all really depends.  Let's take the X100V for example (which I own).  I could sell it for $1800-2000, more than I bought it for.  It can be tempting once in a while, but then I'd have to replace it with something else for a compact travel camera beyond my iPhone 14 Pro Max. So I hold on to it for now....and that reduces the supply of pre-owned X100V's.

Then Fuji seems to be on perpetual back-order for the X100V....more decreased supply of new units.

The demand is inflated due to 1) supply and then 2) increased social media visibility of the X100V by some users on TikTok, etc. and 3) it's a great camera and well respected.

Combine that and you have, at best, full retail new and likely a slight mark-up from some dealers. Then for used, the inflated prices you see.

When will it come down? When supply catches up. Fuji ramps up new units available, then new is less expensive than used and both prices will fall after a while of stabilization.  When a new model is released then the current users may want to upgrade their about 3 year old cameras to the newest one. Uses prices will drop to reality and then new model will be hard to get for a while...but old stock of the X100V (new in box) will be a good deal.

WHEN WILL IT HAPPEN? No clue. I do suspect that Fuji isn't ramping up supply of the X100V at all.  If I were in their shoes, I'd have that replacement ramping up for production by year end and release before the holidays if possible late 2023.