2007 - The second best year on record for property sales in Houston

Average and median single family home prices continue to rise despite a fourth consecutive decline in sales in December.

HOUSTON - 2007 was one of the best years on record for the real estate market in Houston, second only to 2006 (Statistics released by the Houston Association of Realtors). This record was achieved despite a fourth consecutive decline in sales in December that reflects the effects of the real estate slowdown.

The total of property sales for December 2007 registered 5,957 which represented a 23.5% decline compared to December 2006. However, the total of dollar volume for 2007 reached its highest level ever with year-end sales of 83,432 properties totaling $16.6 billion. The average single family home price for December rose 5.7% from last December to $216,433; while the median home price for a single family home increased 2.4% to $153,630.

The full year median sales price was $152,000, or an increase of 1.6% compared to 2006. The full year average sales price was $206,393 or an increase of 3.9% compared to last year.

Even that the Real Estate market in the nation has slowed down, Houston has kept a pretty straight line on the chart. The prices have increased a little in the last years but were not inflated like in other states.

The Woodlands Real Estate market is very active since many potential buyers from out of state and Mexico are coming to invest and live here.