Newer development. The builder stopped building for some reason, you may want to check that out with the township. Nice homes priced to sell in this market if your interested.

Wow, you are absolutely right. I checked out the purchase prices of each of the three homes and they are indeed listed below what the owners paid. My guess is that these homeowners moved to the exurbs and bought homes they couldn't afford. Now people realize that living in the exurbs is not fun and thus demand for these houses has dropped. I imagine a few of these are either short-sales or pre-foreclosures. If you are looking to buy in that neighborhood, it looks like you're in for a bargain. Additionally, given the fact that there is so much inventory in that neighborhood, I'd bet that the sellers are willing to come down even more just to get a sale.