Is Milpitas, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$1,360,000
$830/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Milpitas was $1,360,000 in April 2024, up 5.4% from last year, and the median price per square foot was $830.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $460K | $709K | +54.1% |
2 Bedrooms | $867.5K | $950K | +9.5% |
3 Bedrooms | $1.2M | $1.3M | +5.9% |
4 Bedrooms | $1.5M | $1.6M | +5.5% |
5+ Bedrooms | $1.6M | $1.8M | +13.8% |
Summary: Milpitas housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.1%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 13.8%.
Housing Supply in Milpitas, CA
How many homes are available in Milpitas, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
92 | 109 | +18.5% |
Summary: The Milpitas real estate market had 109 homes for sale in April 2024, a 18.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 17 | 18 | +5.9% |
3 Bedrooms | 53 | 57 | +7.5% |
4 Bedrooms | 18 | 23 | +27.8% |
5+ Bedrooms | 2 | 8 | +300.0% |
Summary: The Milpitas housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 45 | +40.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Milpitas in April 2024, up by 40.6% month-over-month. Of the 45 sold homes, 9% were sold under asking, 7% were sold at asking, and 84% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 13 Days | -14.9% |
Summary: Homes in Milpitas had an average of 13 days on market in Apr 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 45 homes were sold in Milpitas; 96% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.