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San Jose September Stats

Sept. 07' Statistics are in for the Downtown San Jose ( Area 9 ) market and let me say that it is a whole new market for the San Jose Area. The downtown condo, townhomes and lofts median sales price went up from the August but the number of closings is almost half the volume from the previous month.

2007             |  Inventory  |  Closed Sales  |  Median Sales $  |  Total Sales Volume

August          |       157      |               23         |       $480,323        |  $11,047,450

September   |       162      |               12         |       $490,000        |  $5,986,500

The inventory continues to climb in the area. With the qualification change recently for home loans and the holidays right around the corners, I don't think the inventory numbers will be going down anytime soon.

Axis Condos is about to add an additional twenty-two stories of unsold inventory to the downtown market before the year-ends.