The Milpitas real estate market has calmed some, and we are well past the seasonal peak, but with few closed sales, the market stats have been experiencing some ups and downs making trend tracking a bit of a challenge. Those swings may make it hard to tell where we’re headed, but according to the data below Milpitas is still in a sellers market!
Here are a few points from the latest update to the Milpitas single family homes market, with more data and analysis in the article below:
- Inventory rose month-to-month and year-to-year for single family homes (SFH) and in the condo and townhome market.
- Closed sales dropped doubled for single family homes from the month before, and were up a hair from this time last year. Pending sales didn’t budge month-to-mont, but were up from last year. In the condo-townhome market, closed sales fell month-over-month, and year-over-year, however pending sales were up.
- The sales to list price ratios skyrocketted for single family homes, but remained well below last year. Condo and townhomes, on the other hand, saw it continue to slip, falling below the month and year prior with the average remaining below asking price. That said, the average and median sales prices fell significantly in both markets.
- Sales slowed to an average of 34 days on market for single family homes, and sped up with a 20 day average for condos and townhomes.
With low inventory and few sales, the data can swing wildly with relatively minor changes, so take it with a grain of salt. What is clear is that it’s a milder sellers market with steady demand in Milpitas’ single family housing market, and an even cooler sellers market for condos and townhomes.
What are the typical seasonal trends? Often February starts to show signs of heating in the market with either March or April as the spring peak for prices, followed by leveling out in summer and slowing through autumn into early winter. Sometimes we do see a late-summer / early autumn jump in activity before the holiday season. However, unless inventory grows dramatically buyers will continue to struggle with the severe housing shortage and the market will remain red hot for sellers.
The Milpitas Real Estate Market
Milpitas is perpetually attractive for home buyers as the location is convenient and offers good schools. Many areas are close to the hills and enjoy scenic views, too.
So let’s look at some data. First up, the Altos charts using list price and active listings. It is updated automatically on a weekly basis, so check back often:
More market data and analysis below the cut.
Milpitas Real Estate Market Trends at a Glance
You can always view the most current info on the Milpitas market on my RE Report (it’s updated between the 5th and 10th of each month).
Milpitas single family homes / houses / duet homes (not duplexes):
| Trends At a Glance | Sep 2026 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,635,000 (-13.0%) | $1,880,000 | $1,680,000 (-2.7%) |
| Average Price | $1,795,330 (-11.2%) | $2,022,140 | $1,697,800 (+5.7%) |
| No. of Sales | 15 (+114.3%) | 7 | 14 (+7.1%) |
| Pending | 16 (0.0%) | 16 | 10 (+60.0%) |
| Active | 19 (+35.7%) | 14 | 14 (+35.7%) |
| Sale vs. List Price | 104.6% (+5.0%) | 99.6% | 107.4% (-2.7%) |
| Days on Market | 34 (+63.8%) | 21 | 22 (+54.7%) |
| Days of Inventory | 37 (-38.8%) | 60 | 29 (+26.7%) |
Something you’ll notice right away is that aside from the “south county” areas of Morgan Hill, this is one of the less costly cities in the county.
(Parts of San Jose are also on the more affordable end of the scale. You can view a snapshot of the varying prices of homes within the large city of San Jose, on my relocation website, Move2SiliconValley.com, updated a few times a year.)
Milpitas condo and townhouse market
Again, we’ll start with the live Altos chart, which automatically updates weekly.
The market tends to follow distinctly different trends in the Milpitas condo and townhome market, though in recent years it’s flip-flopped between being much calmer than the single family homes or significantly hotter.
Trends at a Glance
The Milpitas condo market experienced continued cooling through last winter and may have been close to balanced at the start of the year, but by February was red hot with an early spring peak. There’s been some up and down since then, but the market has clearly come down from that high point. Overall trends suggest it’s still cooling down, though overall may still be a mild seller’s market.
Closed sales slipped while pending sales and active inventory grew month-over-month, and they folowed similar trends year-over-year. The sales to list price ratio slipped below this time last month and last year. With more inventory, buyers are facing less competition, but time on market is speeding up. That said, with so few homes listed and selling it doesn’t take much to cause waves in the data, so take this with a grain of salt.
Overall it seems to be a modest seller’s market that has stabilized some following an early spring peak (see more on the Re Report page, linked above).
| Trends At a Glance | Sep 2026 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $855,000 (-24.1%) | $1,127,000 | $1,102,500 (-22.4%) |
| Average Price | $894,143 (-13.9%) | $1,039,050 | $1,016,920 (-12.1%) |
| No. of Sales | 7 (-30.0%) | 10 | 12 (-41.7%) |
| Pending | 17 (+30.8%) | 13 | 8 (+112.5%) |
| Active | 40 (+11.1%) | 36 | 28 (+42.9%) |
| Sale vs. List Price | 98.9% (-0.6%) | 99.5% | 102.2% (-3.3%) |
| Days on Market | 20 (-33.2%) | 31 | 27 (-22.9%) |
| Days of Inventory | 166 (+53.4%) | 108 | 68 (+144.9%) |
Winning Combination
Milpitas homes for sale will be snatched up quickly in most cases because it’s a community offering good public schools, shorter commutes to many Silicon Valley tech hubs, and scenic views of or from the hills in many spots.
The Milpitas real estate market is a sellers’ market due to low inventory and high demand – so if you love a particular home, don’t wait! Being pre-approved with your down payment in hand is a must!
Milpitas enjoys a close in location, good schools, and in many cases, close up views of the hills or views of the bay and valley from the hills. With BART coming from Fremont into the Berryessa area of San Jose soon, it just keeps getting better looking all the time.
Alternative areas with good schools like Cambrian are far more costly. Combine these factors with the price point being a little more attractive than most of the county, and you can understand why it would draw a lot of very motivated home buyers. All around, Milpitas is a winner.
Browse Milpitas homes for sale:
Click on the link to view Milpitas real estate market’s homes for sale. Property types include single family homes, condominiums (condos), townhouses (townhomes), and multi unit properties (meaning duplex, triplex, and fourplex homes). Note: Milpitas has 2 zip codes, 95035 (regular addresses) and 95036 (PO Boxes).
Please also see:
Milpitas (on the popehandy.com site)
What can you buy for $1 million in Silicon Valley? (on the Move2SiliconValley.com site)
Cupertino real estate market trends & statistics
