The Milpitas real estate market is red hot, one of the hottest in Santa Clara County. The city offers strong schools and a lot of home for the money, so it is always popular.
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). Like elsewhere in the valley, the Milpitas market has been cooling a bit as compared to spring, but prices remain up significantly from a year ago. Homes are selling on average in 20 days – many which sell over list price will do so much sooner, though, often in 10 days or less. Those which sell more than 3 weeks after hitting the market are likely to sell under list price. (This is true nearly everywhere in Santa Clara County .)
|Trends At a Glance||Sep 2018||Previous Month||Year-over-Year|
|Median Price||$1,180,000 (+12.4%)||$1,050,000||$983,444 (+20.0%)|
|Average Price||$1,216,950 (+5.9%)||$1,149,160||$1,025,940 (+18.6%)|
|No. of Sales||30 (+3.4%)||29||20 (+50.0%)|
|Pending||33 (+50.0%)||22||27 (+22.2%)|
|Active||38 (-7.3%)||41||11 (+245.5%)|
|Sale vs. List Price||102.5% (-2.6%)||105.2%||106.8% (-4.0%)|
|Days on Market||20 (+4.2%)||19||14 (+42.2%)|
|Days of Inventory||37 (-13.4%)||42||16 (+130.3%)|
And from the month before:
|Trends At a Glance||Aug 2018||Previous Month||Year-over-Year|
|Median Price||$1,050,000 (-19.2%)||$1,300,000||$1,009,000 (+4.1%)|
|Average Price||$1,149,160 (-11.0%)||$1,290,780||$1,103,980 (+4.1%)|
|No. of Sales||29 (+7.4%)||27||30 (-3.3%)|
|Pending||22 (-31.3%)||32||25 (-12.0%)|
|Active||41 (+17.1%)||35||8 (+412.5%)|
|Sale vs. List Price||105.2% (-3.1%)||108.6%||108.1% (-2.7%)|
|Days on Market||19 (-5.2%)||20||15 (+22.9%)|
|Days of Inventory||42 (+9.1%)||39||8 (+430.2%)|
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. (There are parts of San Jose which are also on the more affordable end of the scale – please see an article on my relocation website, Move2SiliconValley.com, on the topic of the varying prices of homes within the large city of San Jose.)
Milpitas has 2 zip codes, 95035 (regular addresses) and 95036 (PO Boxes). Below, please view some Altos Research charts, which use list prices for Milpitas 95035.
|90-day stats for Single Family properties in|
MILPITAS, CA 95035 as of October 12, 2018
|Median List Price:||$1,138,827||Average List Price:||$1,660,905|
|Total Inventory:||38||Price per Square Foot:||$665|
|Average Home Size:||1,628||Median Lot Size:||6,110|
|Average # Beds:||3.91||Average # Baths:||2.94|
|Homes Absorbed:||9||Newly Listed:||10|
|Days on Market:||27||Average Age:||46|
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.
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 there are views of the hills or from them 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!
Browse Milpitas homes for sale:
The properties below are listed in order of newness – the most recently added properties will be listed first. Property types include single family homes, condominiums (condos), townhouses (townhomes), and multi unit properties (meaning duplex, triplex, and fourplex homes).
$999,500 : 1626 Rocky Mountain AVE, MILPITAS3 beds, 2 baths
$899,000 : 1399 Nestwood WAY, MILPITAS2 beds, 3 baths
$949,000 : 1361 Merry LOOP, MILPITAS3 beds, 3 baths
$749,999 : 338 San Petra CT 1, MILPITAS3 beds, 2 baths
$899,999 : 287 Diamond WAY, MILPITAS3 beds, 3 baths
See all Real estate in the city of Milpitas.
(all data current as of 10/21/2018)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Please also see:
Milpitas (on the popehandy.com site)
What can you buy for $1 million in Silicon Valley? (on the Move2SiliconValley.com site)