I cannot comment on the townhome inventory but with regards to detached homes it is about the worst inventory I have seen in quite awhile down in the price range you are talking about. I can honestly say I have never seen PQ so active in that price range. Again, it sounds like you are looking for townhomes so maybe this does not apply.

What you really need to hope for is that the foreclosures that have been getting held up by legislation finally get sold at trustee sale and then get put on the market.

If you want to track what is happening foreclosure market in the county then go to http://www.foreclosureforum.com/stats. As you can see, when you look at the trustee sales the numbers are absolutely abysmal.

Without a drastic change in those numbers we will continue to see the same sort of activity we have been subject to since February. Make no mistake, this is a VERY POOR time to purchase a detached home in many areas that are strapped for inventory.