Here is an update from beautiful Southern Oregon. The median sales price in July 2007 (market peak) was $325,000...
...last month it was $190,000. A drop of $135,000 or 42%.
Unfortunately unemployment and high inventory levels are still working against the market.
From the Mailtribune:
Foreclosure sales remained a market driver with bank-owned properties accounting for 43 percent of existing home sales. Inventory of homes dropped 1.2 percent in March.