We went to a party a couple weeks ago at the home of one of DH's grad school classmates, who lives in one of the towns where we're househunting. DH's friend bought the house one year ago this month. So when a listing came into my email for a home in the same neighborhood, I decided to check public records on the friend's home. I knew prices had come down quite a bit from last year, but it's really something to see it.
DH's friend paid $881.5k for a 3 BR/2.5 BA 1608 sq ft home with a pool, or roughly $550/sq ft.
This current listing is for $725k for a 4 BR/2 BA 2012 sq ft home with a pool, or roughly $360/sq ft. Now I've not actually seen the inside of this house in person, but the photos look similar to the one owned by DH's friend.
Unfortunately, we've had to postpone our purchase due to difficulty finding attractive financing. Although we've got excellent credit and a good, stable income, all the lenders we've talked to won't touch us because we have <20% to put down. A couple of the lenders we talked to want 30% and one even said 35%. So we're staying in our current rental townhouse as cramped as it is and trying to save up a larger downpayment.