Sign of good things to come re: RE prices

a home that we looked at in june (way over our price range) has gradually dropped in price by 300,000. it is an absolutely to die for home and the only negative is that it was (IMO) overpriced. i am curious if the home will sell quickly as a result of the major prce drop.

crossing fingers that this is a good sign that the housing market is not a strong as it was 6 months ago and prices are going to start dropping.