Milpitas Housing Market Report – June 2026
Here's a look at how the Milpitas, CA real estate market performed in June 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 42
- Median Sale Price: $1,294,000
- Average Sale Price: $1,327,111
- Average Price Per Sq Ft: $823
- Average Days on Market: 48
- Sale-to-List Price Ratio: 101.2%
Month-Over-Month Trends
Compared to May, the median sale price in Milpitas moved 2.3% up (from $1,265,000 to $1,294,000). The number of homes sold was 16.0% down compared to the prior month (50 vs. 42). Average days on market shifted 31.4% down (70 days to 48 days).
Year-Over-Year Comparison
Compared to June 2025, the median sale price is 16.7% down (from $1,552,500 to $1,294,000). Sales volume is 4.5% down year-over-year.
What This Means
Milpitas is showing signs of a stabilizing market after a turbulent year. While the median price of $1.294 million sits 16.7 percent below last June's peak, the month-over-month uptick of 2.3 percent suggests we may have found a floor. More importantly, homes are moving faster—average days on market dropped from 70 to 48 days—indicating renewed buyer interest. The fact that homes are selling slightly above list price (101.2 percent ratio) is particularly noteworthy, suggesting that homes priced right are attracting competitive offers even in this cooler environment.
The supply situation is worth watching. With 136 active listings against just 42 sales, inventory remains elevated by pre-2024 standards. However, those listings are sitting longer than sold homes (58 days average), which points to some price resistance at current asking levels. The $106,000 gap between median asking and median sale price indicates sellers may still be adjusting expectations downward.
June's slower sales volume likely reflects typical early-summer seasonality rather than weakness, especially given that days on market improved considerably. For buyers, this remains a favorable environment with reasonable negotiating power. For sellers, pricing competitively and presentation matter more than they did during last year's frenzy.
Milpitas Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 95035 | 42 | $1,294,000 | $823 | 48 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 20 | $1,670,000 | $996 |
| TOWNHOMES | 13 | $1,140,000 | $714 |
| CONDOS | 5 | $650,000 | $652 |
| MOBILE | 2 | $313,750 | $292 |
| LAND | 1 | $2,650,000 | N/A |
| MULTI_FAMILY | 1 | $1,575,000 | $710 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| $200K - $299K | 1 |
| $300K - $399K | 1 |
| $500K - $749K | 4 |
| $750K+ | 36 |
Current Active Listings
As of this report, there are 136 active listings in Milpitas with a median asking price of $1,188,444 and an average of 58 days on market.
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