Is Milpitas, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$1,350,000
$821/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Milpitas was $1,350,000 in March 2024, up 3.1% from last year, and the median price per square foot was $821.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $470K | $638K | +35.7% |
2 Bedrooms | $880K | $927.9K | +5.4% |
3 Bedrooms | $1.3M | $1.3M | +2.3% |
4 Bedrooms | $1.6M | $1.6M | 0.0% |
5+ Bedrooms | $1.7M | $1.8M | +9.5% |
Summary: Milpitas housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.7%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 9.5%.
Housing Supply in Milpitas, CA
How many homes are available in Milpitas, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
64 | 95 | +48.4% |
Summary: The Milpitas real estate market had 95 homes for sale in March 2024, a 48.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 9 | 17 | +88.9% |
3 Bedrooms | 38 | 56 | +47.4% |
4 Bedrooms | 14 | 17 | +21.4% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Milpitas housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 88.9%, 3 bedroom homes increased by 47.4%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 33 | +73.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Milpitas in March 2024, up by 73.7% month-over-month. Of the 32 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
17 Days | 27 Days | +53.4% |
Summary: Homes in Milpitas had an average of 27 days on market in Mar 2024, up by 53.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in Milpitas; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.