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Milpitas Real Estate MarketThe Milpitas real estate market has been one hot seller’s market in Santa Clara County! Altos Research has called it a strong seller’s market for many months now, and it’s showing no signs of cooling down! Here are a few more points from the latest update to the Milpitas single family homes market, with more data and analysis in the article below:

  • December’s sales rose to 14 while active inventory plunged to 5.
  • Homes are regularly bid well over list price with sales averaging at 109.8% of asking!
  • The average Milpitas home is taking around 15 days to sell, and often less.

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:

Altos Real-Time Market Profile, Milpitas

This chart says Milpitas is in a strong seller’s market and climbing! According to the most recent update (November 23rd), inventory shrank again, listings are selling quickly, although they are beginning to slow down.

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 Dec 2021 Previous Month Year-over-Year
Median Price $1,425,000 (-0.9%) $1,437,500 $1,267,500 (+12.4%)
Average Price $1,583,790 (+6.2%) $1,491,860 $1,307,970 (+21.1%)
No. of Sales 14 (-30.0%) 20 21 (-33.3%)
Pending 14 (-26.3%) 19 21 (-33.3%)
Active (0.0%) 5 10 (-50.0%)
Sale vs. List Price 109.8% (-4.0%) 114.5% 101.0% (+8.8%)
Days on Market 15 (+3.8%) 14 21 (-28.4%)
Days of Inventory 11 (+47.8%) 7 14 (-25.0%)

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 condo and townhouse market

Again, we’ll start with the Altos chart.

Altos Real-Time Market Profile for Milpitas, CA Condos

The market action remains high and stable in the Milpitas condo market. Inventory continues to fall and days on market show an extraordinarily fast turnover. It’s a strong seller’s market for Milpitas condos and, by these numbers, nearly as active as the single-family housing market!

Trends at a Glance

The Milpitas condo market (see more on the Re Report page) isn’t slowing down!

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $1,006,890 (+10.1%) $914,500 $945,000 (+6.5%)
Average Price $1,004,890 (+9.5%) $917,412 $912,790 (+10.1%)
No. of Sales 19 (-13.6%) 22 19 (0.0%)
Pending 18 (-25.0%) 24 21 (-14.3%)
Active (-60.0%) 5 10 (-80.0%)
Sale vs. List Price 105.1% (+0.6%) 104.5% 102.4% (+2.7%)
Days on Market 13 (-46.2%) 23 20 (-36.1%)
Days of Inventory (-52.1%) 7 16 (-80.0%)


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:

Click on the link to view Milpitas real estate 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

Author

  • Silicon Valley Realtor, selling homes in Los Gatos, Saratoga, San Jose, Silicon Valley, and nearby since 1993. Prolific blogger with a network of sites.