Note: Due to the large volume of homes sold in Houston, Texas, I usually need two months to compile data. So in February, I'll be using December data, obtained from the Houston Association of Realtors.

Market Conditions: To date, the mortgage company and loan problems you have been reading about have affected Houston housing much less than most other areas of the country. The year 2007 was the second best year in Houston, Texas on record based on the Houston Association of REALTORS statistics. Total property sales were lower than 2006, but total dollar volume was a record high. So in a nutshell, less homes sold, but for more money.

Although total Houston home sales decreased in December by 23.5%, the average sales prices increased over last year. The median price (a price where half the homes sold for more and half sold for less) was $153,630, a 2.4 % increase from December 2006. The average sales price was $216,433. This is a 5.7% increase over last year's value.

Townhomes and condo sales were down in price from last December, but higher than last month. In December 2007, the average sale price was $173,693. This is a 7.4 % decrease in price over December 2006, but a 6.9 % increase from November 2007.

In closing, the Houston housing market is still stronger in pricing than other areas of the country, although the foreclosures and sub prime lending problems appear to have affected us all. In Houston, in recent years, you have been able to purchase a home for less than in many other cities and the value has increased. According to the National Association of Realtors, Houston's current median sales price for a single family home is 30.1 % less than the national average. We had the second best year on record. This indicates the great value of living in Houston.


Location Characteristics: Known as both the Bayou City and Space City, Houston was founded in 1836 and named after General Sam Houston. With a population of close to 2 million, it's the 4th largest city in the United States. The city has been a dynamic center of business since the early 1900s and is also the leader in space technology, being home to NASA and the Johnson Space Center. The port area is thriving and connected to the city by the Houston Ship Channel. Other well known areas are Interstate 10's Energy Corridor, the Galleria, and the world class Texas Medical Center. Houston's feel is diverse, with both a high rise skyline and waterways like the Buffalo Bayou, which winds through the city.

Recently, downtown Houston has been transferred into a dynamic area of the city for both entertainment and residential living. Many new lofts and townhomes have been built in and near downtown and other buildings have been converted from commercial to residential use.

Houston has major league football, baseball, basketball (men's and women's), and soccer teams, as well as AHL hockey. It also has separate horse and greyhound racing tracks.

For the theatre lovers . . .  Houston is one of the few cities that has permanent ballet, orchestra, opera, and theatre companies.

Houston real estate offers most everything you could possibly desire.

Meg and Jim Zoller - The Zoller Group of Keller Williams Realty, The Metropolitan

Please view our website, http://www.finehomeshouston.com/ . Also, feel free to contact us at:

Direct: 713-661-0884

Toll Free: 800-808-6153

E-mail: Meg@FineHomesHouston.com or Jim@FineHomesHouston.com

Cells: Meg - 713-875-4844 Jim - 713-545-6338