Recently sold a condo I had in NE California. When I first bought there ~8-9 years ago, a town near by had old railroad cabins for ~100k or less. As the housing / migration boom to Reno took hold, those cabins are now in the 2-250k range. The median income in the county ~40k.

The town I was in saw prices for something that was ~175-200k 7-8 years ago peak at around $425k in 2023/2024 and now "cratering" into the low to mid $300ks. Median income hasn't changed, just people with 2nd/vacation homes and wanting to offload them due to the economy.