You’ve probably heard it said that Houston has everything residents could want: a lively cityscape, top-notch museums/cultural attractions, and wonderful family activities. But employment and housing opportunities are also part of the best Houston has to offer; in fact, Houston was ranked number seven on Forbes Most Affordable Places to Live list for 2009 (if you didn’t catch this in our update on Houston market conditions July 2009, you’re hearing it now!). It’s true: Houston one of the great American opportunity cities.

It piques one’s interest all the more, doesn’t it? Fortunately, we can keep you abreast of the latest developments in Houston real estate market conditions for August 2009 as well. Here is the data:

At the close of August, there were 5,557 homes for sale in Houston, with a median price of $160,000. This median reflects a 1.8% month-over-month decline; so, buyers can be assured that not only do Houston housing prices remain affordable – they are actually becoming more affordable!

Out of this number, 161 properties were new homes for sale; these Houston homes sharea median of $185,390. There has been no change in the median housing price of Houston new homes since July. The foreclosure market experienced slight fluctuation, with a .1% price decline since the previous month; its median is $101,628. And, the selection is plentiful; there were over 5,000 foreclosed properties in Houston listed as August came to a close. If living in one of the nation’s most affordable – and exciting – cities is on your agenda, now is the time to inquire about properties with a respected local agent.