$10,000 Closing Credit*
$1,439,000
1,459 SqFt
2 Beds
•2 Full Baths, 1 Partial
Reetika Singh, Listing Office: Intero Real Estate Services
Is Milpitas, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Milpitas has remained a Seller's Market.
Key Takeaway
Milpitas is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milpitas, CA
How much do homes in Milpitas, CA cost?
Median Sold Price
$1,386,000
$859/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$86,000(+6.6%)
Key Takeaway
Homes in Milpitas have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Milpitas was $1,386,000 in November 2024, up 6.6% from last year, and the median price per square foot was $859.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $638K | $727.5K | +14.0% |
| 2 Bedrooms | $924K | $950K | +2.8% |
| 3 Bedrooms | $1.2M | $1.3M | +7.1% |
| 4 Bedrooms | $1.5M | $1.7M | +14.3% |
| 5+ Bedrooms | $1.7M | $2.0M | +16.0% |
Summary: Milpitas housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 16%.
Housing Supply in Milpitas, CA
How many homes are available in Milpitas, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 108 | 87 | -19.4% |
Summary: The Milpitas real estate market had 87 homes for sale in November 2024, a 19.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 27 | 22 | -18.5% |
| 3 Bedrooms | 50 | 38 | -24.0% |
| 4 Bedrooms | 19 | 12 | -36.8% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Milpitas housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.5%, 3 bedroom homes decreased by 24%, 4 bedroom homes decreased by 36.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 46 | +35.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milpitas, you could pay more than the asking price. 65.1% of homes here sold above asking price last month.
Summary: A total of 46 homes were sold or pending in Milpitas in November 2024, up by 35.3% month-over-month. Of the 43 sold homes, 28% were sold under asking, 7% were sold at asking, and 65% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 16 Days | -7.8% |
Summary: Homes in Milpitas had an average of 16 days on market in Nov 2024, down by 7.8% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Milpitas are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 46 homes were sold in Milpitas; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.