“Current sales to high-net worth households do not necessarily give a clear picture of the state of the local real estate market, correct?”

I’ll agree, I’m one of the contrarians here that still feels that prime properties in SD county will weather any downturn better than less-desirable areas.

Something I’m thinking is that perhaps its just going to take mass-foreclosures to bring the median down in a meaningful way, as the average seller is just too emotionally invested to drop their prices in any meaningful way.