The Times says, so it must be true

http://www.nytimes.com/2009/09/20/realestate/20cov.html Asking prices, meanwhile, were way down from previous years, according to StreetEasy. The median asking price for the week that ended on Sept. 13 was $860,750. The week after Labor Day 2008, the comparable figure was $1,100,000. After Labor Day 2007, it was $1,050,000. The week after Labor Day in 2007, studio apartments new to the market were... [more]

http://www.nytimes.com/2009/09/20/realestate/20cov.html Asking prices, meanwhile, were way down from previous years, according to StreetEasy. The median asking price for the week that ended on Sept. 13 was $860,750. The week after Labor Day 2008, the comparable figure was $1,100,000. After Labor Day 2007, it was $1,050,000. The week after Labor Day in 2007, studio apartments new to the market were listed at a median price of $525,000. The next year, the median price was $429,000. This year, it was down to $399,000. Over that same period, new one-bedrooms went from $785,000 to $775,000, and are now down to $675,000. Two-bedrooms went from $1,412,500 in 2007, up to $1,599,500 in 2008 and then down to $1,250,000 this year. [less]