Prices in the top 1/3 priced homes in the SD market were at March, 2005 prices as of the most recent Case Shiller data of August, 2007.

http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html

As of August, 2007

Top 1/3 (homes over 678K) at March, 2005 prices

Middle 1/3 (homes between 482K to 678K) at June, 2004 prices

Bottom 1/3 (homes under 482K) at July, 2004 prices

In search of a crystal ball . . . .