Depends on your monthly payment range. The largest volume in sales for the last 24 months has been under $450,000. As you go closer to the $300,000 number you get less house i.e. under 1,500 square feet, smaller lot sizes, fewer amenities, location issues, etc.
The other thing to consider is that in the fall of 2010, mortgage rates were below 4.5%. Any hike in mortgage rates will hurt pricing.
In March 2011 we saw a small increase in the number of single family detached homes sold in Simi Valley, but at the same time we saw the number of homes sold below or at $300,000 increase. This trend started back in December 2010.
People are coming out to buy on price, we saw this when the market hit a low in May 2009 and any time there is a favorable interest rate or competing homes drop there prices, more buyer start to come into the market.