I was doing some research to post about the real estate activity in the downtown San Jose area when the San Jose Mercury printed an article in today’s paper, “Santa Clara Home Sales Fall, While Prices Rise - Again.” The article by Pete Carey states that “Home sales in Santa Clara County continued a familiar pattern in July, with sales volume dropping nearly 11 percent while the median price of a single-family home climbed 7.4 percent to a record $805,500.” The article further went on to describe how sales may vary depending on the neighborhood and area. So how does downtown San Jose compare with the rest of Santa Clara county?

For the condo/townhouse market in Central San Jose, which includes downtown San Jose, the number of sales in July 2007 increased 13% from the previous month while the median price also went up by .15% to $500,750. Compared to July 2006, however, the number of sales for July 2007 is down 13.3% and the median price is also down slightly by 1.62%.