Luxury home sales boosted the average price of a single-family home for a third straight month. The average price rose 3.3 percent from March 2010 to $217,597, the highest level for a March in Houston. The March single-family home median price—the figure at which half of the homes sold for more and half sold for less—dipped 1.7 percent year-over-year to $150,900.

Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 3.6 percent in March compared to one year earlier. Foreclosures comprised 23.5 percent of all property sales in March. The median price of March foreclosures fell 7.1 percent to $82,000 on a year-over-year basis.

March sales of all property types in Houston totaled 5,509, down 5.0 percent compared to March 2010. Total dollar volume for properties sold during the month declined 2.3 percent to $1.1 billion versus $1.2 billion one year earlier.

"The year-over-year March 2011-March 2010 analysis is a bit skewed in the sense that it continues to reflect a comparison to the period a year ago where the home buyer tax credit encouraged consumers to purchase a home prior to the April 30 deadline," said Carlos P. Bujosa, HAR chairman and VP at Transwestern. "It is encouraging that properties continue to go under contract at the levels we saw last year, a time when the tax credit was a huge incentive."

Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.