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 (+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 (+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.

app?pai=50109450&service=chart&st=CA&cid=81&zid=336&rt=sf&ra=a&q=a&s=median price&sz=m&ts=e&theme=newchart - Milpitas real estate market

 

app?pai=50109450&service=chart&st=CA&cid=81&zid=336&rt=sf&ra=a&q=a&s=median inventory&sz=m&ts=e&theme=newchart - Milpitas real estate market

90-day stats for Single Family properties in
MILPITAS, CA 95035 as of October 12, 2018
Median List Price:$1,138,827Average List Price:$1,660,905
Total Inventory:38Price per Square Foot:$665
Average Home Size:1,628Median Lot Size:6,110
Average # Beds:3.91Average # Baths:2.94
Homes Absorbed:9Newly Listed:10
Days on Market:27Average 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).

  1. 3 beds, 2 baths
    Home size: 1,264 sq ft
    Lot size: 5,702 sqft
  2. 2 beds, 3 baths
    Home size: 1,223 sq ft
    Lot size: 2,125 sqft
  3. 3 beds, 3 baths
    Home size: 1,643 sq ft
    Lot size: 1,241 sqft
  4. 3 beds, 2 baths
    Home size: 1,050 sq ft
    Lot size: 1,799 sqft
  5. 3 beds, 3 baths
    Home size: 1,371 sq ft
    Lot size: 875 sqft

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)

Translation

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
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