This bit of news courtesy of local Realtor Paul Boenisch who shares market statistics on his website. November 2008 just saw a very sharp drop in the average sales price of single family homes:
Prices are falling sharply. Believe it or not the average SFH price fell 10% this month. Yes in 1 month. $745,778 for November v. $825,206 for October. The average has dipped 19% since March. It will be interesting to see if the benchmarks also make a dramatic drop.