Just Looking, Westchester County, NY
Probably. Mahopac is far from NYC, jobs are being lost in large numbers, credit is getting tighter and community taxes are not going down. If taxes don't give, home prices have to so unless you think the economy is going to turn around or credit is going to loosen up again soon, home prices will continue falling.
Also, you ask, "is now still a good time to buy?" When, recent, was it a good time to buy? I've been looking in westchester for more than a year now and if we bought a year ago, we'd certainly be down now.