The real estate market, generally speaking, may still be slow but things are looking up a bit here in downtown San Jose. At least for the month of March things seemed to have picked up from the previous month. The number of closed transactions doubled in March ‘08 from February ‘08. Despite March ‘08 being down compared to the same time period in 2007, its still encouraging to see that sales have increased this year. Getting financing is now the tricky part for any potential buyer, but many buyers are sensing that this is a good time to purchase. The following statistics represent Central San Jose’s (MLS Area 9 which includes downtown San Jose) condos, townhomes, and lofts.

As I’ve mentioned in previous blog entries, the statistics may be a little misleading since they do not include sales transactions from new construction developments, which include City Heights and North Keystone. Furthermore, units at Axis and Three Sixty Residences have also been selling but have not began closing transactions yet. This also skews the statistics since most of this new construction wasn’t available at this time last year.

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