Downtown San Jose October Real Estate Statistics

Posted by Danielle & David Contreras on Tuesday, November 20th, 2007 at 2:21pm.

Sept. 07' Statistics are in for the Downtown San Jose market and seems to indicate a leveling out. The downtown San Jose condo, townhomes and lofts inventory numbers increased showing signs that many are still needing to sell their homes. The trouble is finding the buyers.  The following stats represent the downtown San Jose condo, townhomes and lofts only.

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

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

October   |       172     |               12         |       $430,000       |  $5,943,700

The housing market will continue to be slow through Thanksgiving, Christmas and New Year's holidays. Traditionally a slower time with lesser inventory but this year seems to be far different. These stats are a bit skewed as these numbers are only showing the current inventory and none of the new construction inventory available in the area. Three of the four new construction developments are now selling inventory of over 650 additional units. An addition 187 units from Tower 88 should be next to the market.

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