Absolutely correct GF. Some communities have touted their asking prices as examples of how their communities have retained their values. But as you point out, listing a property that won't sell at those prices is not proof of anything, except no buyer.
In areas where prices stay higher and don't change, this can be more reflective of owners that aren't so over-leveraged that they have to sell. Obviously, some areas attracted a higher percentage of speculators and second, or even third home buyers. Those area have many sellers that need to sell.
I recently witnessed a Florida property that sold at "auction", for $100. The buyer was the bank holding the paper
I can only think the auction occurred when the banker closed his office door, submitted the bid to himself, and won
