I’ve been watching that area over the years also. SDrealtor is correct, as that listing marked a landmark for me as well.
While there might have been some other sales under $500K, there have NOT been any listings under that for a 3/2 over 1200 sf — at least none that I was ever aware of.
Best of all, that house has been there for at least a week, IIRC. In the “good old days” it would have been gone within an hour at that price. Will be interesting to see what happens with it.