Is the market up? Is it down? Buyers market or sellers? More importantly, how does it compare to a year ago? Any improvement?

According to a press release issued by the Houston Association of REALTORS this past week, sales on single family homes fell by 23.3% from October 2009 to October 2010. Although sales may have fallen, the average price rose by 5.6% making the average price of a home in Houston $208,459. The median price also rose by 0.7% making it $150,000.

In a nutshell, not as many people have been buying homes in the last year, but the price of a home in general has increased. This could be considered good or bad news for sellers and buyers.

Not only did the Houston Association of REALTORS report on single family homes, they also reported on condominiums. From October 2009 to October 2010 sales were down on condos a whopping 42.7%! The average price dropped as well by 8.8%, which brought it to $144,812. The median price was also down by 15.6% or $105,500.