The house in which I grew up is valued at $1.2 million today. It's a 2000 square foot, 4-bedroom home on 0.20 acres of land on a ridge above Honolulu, built in the early 70s. The rooms are small, the bathrooms are tiny, but the land is worth a fortune, even if it's not a lot of land.
My sister's house is a 2000 square foot, 4-bedroom home on 0.25 acres of land in San Antonio, Texas, built in the early 2000s. They bought it a couple years ago for $167,000.