Is Brigantine nj overpriced?

Is Brigantine nj overpriced?
Seems that Brigantine nj still has 2005 house pricing...700 properties for sale (population 12,500).......The realtor agreed........I'd like to make a bid on a $550,000 which has been on the market over 6 months about $80,000 lower.......Is this insulting? feel if i pay top dollars the house will never appreciate......
Source: www.trulia.com

Im looking to buy a home in Brigantine. If I buy a home for 450,000 and put down 100,000. What would my?
monthy payment be including taxes and home owners, Just a rough estiment. Thanks Teri
Source: www.trulia.com