The housing bubble popped painfully in many popular second-home areas - including these. Median values fell 10% to 20% in the past year alone and are expected to bottom in the next 12 months.
Median home: $244,000
What it's like: You don't have to be a Kennedy to afford a perch in this picture-perfect Cape Cod town, which boasts four Nantucket Sound beaches within walking distance of shops.
Check out: Homes surrounding Hyannis's downtown, many of which have been upgraded recently.
NEXT: Montague, Mich.