In general price per square foot is not to linear from the perspective of 0 square feet on upwards. Also ppsf is useful but it does not factor in lot size, orientation or condition of the home, views, ammenities, etc.
As far as CV finding lower price levels, just like all of the other desireable areas, LCV will find lower pricings based on the demand for LCV homes. It is often frustrating about the pace of declines for spots like this. There are inklings of some lower priced sales from the few distressed LCV sales. Our hope is for those to become more numerous as time marches on.