As I mentioned earlier this week, I was doing some research on how the market is doing in downtown San Jose. So, as everyone always asks, how is the market doing? Let’s look at the facts. These are statistics for condos/townhouses in central San Jose (the area covering downtown San Jose).

2007 . . . . . . . Inventory . . . . Median Sales Price
January . . . . . . 105 . . . . . . . . $547,500
February . . . . . 108 . . . . . . . . $472,000
March . . . . . . . 136 . . . . . . . . $499,950
April . . . . . . . . 141 . . . . . . . . $524,500
May . . . . . . . . 141 . . . . . . . . $546,500
June . . . . . . . . 170 . . . . . . . . $500,000
July . . . . . . . . 159 . . . . . . . . $500,750

As you can see, the median sales price has fluctuated throughout the first half of this year. What is more noticeable, however, is that despite a slight dip in inventory from June to July, the amount of inventory in central San Jose has increased significantly since January. Normally, increased inventory would signal a buyer’s market. But with lender’s more closely scrutinizing loan applications, the continued subprime fallout, and rumors of Countrywide’s impending bankruptcy, can anyone really say what kind of market we are in right now?

*These statistics are generated using information from the RE Infolink MLS, but have not been verified and are not guaranteed. RE Infolink disclaims any responsibility for the accuracy and reliability of these statistics. This information should not be relied upon for real estate transaction decisions.