You might need to sell again fairly quickly?? I am not sure what : "fairly quickly" translates to, but if it is within a year or two, I wouldn't buy right now. I certainly don''t pretend to know your area, but, for the most part, this is not the market for a short term purchase.
In regard to a condo versus a house - in my area the condo market has been harder hit than homes - with a higer percentage of depreciation. .We have lost a lot of the move-up empty nesters that would normally be trading down to smaller spaces. They are staying put. The condo market here is mostly populated with first timer buyers now, so there are fewer buyers out there for that type of property. In my area, there is also an over abundance of condo complexes, so the competition for buyers is fierce.
As I said, this is based on my area .
Good luck to you in whatever you decide.
If i may be of assistance, Marybeth Muldowney, Broker Owner TradeWinds Realty Group LLC
http://www.WeGoOverboardForYou.com or cellular 781-910-7294
Condo's are a tough sell right now because of the decline in single family prices, but that doesn't mean the right deal is not there for you. Buying and selling anything on a short term plan could be risky in this market. You should sit down with a Buyer's agent and go over your needs and overall goals. You can use the current MLS data to help you decide the right type of property for you. Once you have a better idea of what you are looking for, you can start searching for the best buy/resale property for your budget. If I can be of any help, don't hesitate to contact me. Best of luck.