I welcome OttCan's analysis of MLS statistical data, which pointed out that simply comparing average/medium sold-prices may not accurately reflect the actual market condition.
The market demand is the key factor to look at. The larger new houses (500K+) are not selling well at the moment, a stark contrast from even a year ago. Re-sale homes appear to be going down the same path. At the moment, I think price-deline started but not yet widespread arosss the board. Some locations and/or lower price ranges are still selling ok. It will be clearer after 2013 spring.