Case in point, 124 Pecksland Road, which today dropped its price to $2.995 million from $3.495 after a year of waiting to get its 2006 price. In 2006 it sold for that $3.495, full asking price, in just 24 days. The new owners have replaced the shingle roof (that's expensive), added copper gutters and replaced the appliances, so it's in better shape now than it was ten years ago, but no soap.
It's a very nice 1939 house, by the way, beautifully kept up and modernized without the ruination that often comes with such efforts. It's probably hampered a bit by being a 1.25-acre lot in the 2-acre zone, but at 4,600 sq.ft., it would seem to be the right size for today's market.
So far, the market has disagreed.