I love how people living half way across the county can throw out a couple stats and declare a house overpriced.
First of all the price was an early 2003 which is very different from a late and even a mid 2003 price. Second it is an end of cul de sac private view lot with a southwest exposure in a prime school district and walking distance to all 3 levels of schools. Add in a 3 car garage on a 4BR house in this school district under $700K and you have a pretty limited commodity right now. Looking at the comps it was a good deal and while not a screaming deal could have gone $25K higher.
In the end finding a house like that is tough around here and no matter what you pay you would enjoy your life there.