Is Milpitas, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Milpitas has remained a Seller's Market.
Housing Prices in Milpitas, CA
How much do homes in Milpitas, CA cost?
Median Sold Price
$1,351,500
$830/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Milpitas was $1,351,500 in May 2024, up 4.8% from last year, and the median price per square foot was $830.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $592.5K | $638K | +7.7% |
2 Bedrooms | $867.5K | $947.5K | +9.2% |
3 Bedrooms | $1.2M | $1.3M | +8.0% |
4 Bedrooms | $1.5M | $1.6M | +9.3% |
5+ Bedrooms | $1.5M | $2.0M | +27.9% |
Summary: Milpitas housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 27.9%.
Housing Supply in Milpitas, CA
How many homes are available in Milpitas, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
110 | 113 | +2.7% |
Summary: The Milpitas real estate market had 113 homes for sale in May 2024, a 2.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 18 | 21 | +16.7% |
3 Bedrooms | 57 | 56 | -1.8% |
4 Bedrooms | 22 | 21 | -4.5% |
5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Milpitas housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 37 | -19.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Milpitas in May 2024, down by 19.6% month-over-month. Of the 35 sold homes, 11% were sold under asking, 9% were sold at asking, and 80% were sold over asking.
Days on Market for Milpitas, CA
How long does it take to sell a home in Milpitas, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 12 Days | -32.4% |
Summary: Homes in Milpitas had an average of 12 days on market in May 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in Milpitas; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.