Since Beltsville, MD also has quite a few town houses and condos, I thought I would take a quick look.

90-day stats for Condo properties in
BELTSVILLE, MD20705 as of May 7, 2010
Median List Price $131,785 Average List Price $143,718
Total Inventory 73 Price per Square Foot $97
Average Home Size 991 Median Lot Size n/a
Average # Beds 2.40 Average # Baths 2.07
Homes Absorbed 7 Newly Listed 8
Days on Market 267 Average Age 39

As you can tell by this stats table there are a lot - 74 - condos and townhouses on the market in Beltsville, MD. You can also see that that are taking a long, long, long time to sell - 299 days (on average).

Median Price for homes in BELTSVILLE, MD 20705

Median Price for homes in BELTSVILLE, MD 20705 as of May 7, 2010 is $131,785
Inventory for homes in BELTSVILLE, MD 20705

Inventory for homes in BELTSVILLE, MD 20705 as of May 7, 2010 is 73
Average Days on Market for homes in BELTSVILLE, MD 20705

Average Days on Market for homes in BELTSVILLE, MD 20705 as of May 7, 2010 is 267

The orange line is the 90 day moving average. This is a trend line. The black line is the 7 day moving average which shows more what house prices are doing week to week. What I am seeing is a steady downward trend in home prices. I also see a huge jump in housing inventory. Since these are condos and townhouses, I can only assume that there are a massive amount of short sales and foreclosures that are entering the market.

Foreclosures are OK. The short sales will take close to eight months to flush through the market. Meanwhile there will be continued downward pressure on home prices.

Even though these are condos and townhouses, the pricing for these homes will also continue to put downward pressure on single family home prices.

Think about it. If you could buy a nice townhouse for several tens of thousands of dollars or even one hundred thousand dollars less, would you?