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It seems to me that everyone who has answered your question has missed the most important point. WHY do you want to sell your house? If the answer is that you think it may be a good investment move, that's pretty questionable; if you're staying within the same market area, it's likely to cost you a fair amount to do it, negating a lot of profit for a number of years. However, if you have good reasons to sell your home (too big, too small, not enough bedrooms/bathrooms, you hate your neighbors, whatever), then it can be a very good time to buy, particularly if you're buying up; yes, you'll take a loss, but the person you buy from will likely be taking a bigger one. My advice--focus first on your personal needs, not your investment profile, and if you still want to sell and buy, it's likely a very good time to do it.
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For Sale: $64,900
For Sale: $69,000
For Sale: $30,000