Milpitas Housing Market Report – May 2026
Here's a look at how the Milpitas, CA real estate market performed in May 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 50
- Median Sale Price: $1,265,000
- Average Sale Price: $1,638,720
- Average Price Per Sq Ft: $814
- Average Days on Market: 70
- Sale-to-List Price Ratio: 103.4%
Month-Over-Month Trends
Compared to April, the median sale price in Milpitas moved 3.1% down (from $1,305,000 to $1,265,000). The number of homes sold was 0.0% down compared to the prior month (50 vs. 50). Average days on market shifted 14.6% down (82 days to 70 days).
Year-Over-Year Comparison
Compared to May 2025, the median sale price is 9.7% down (from $1,401,000 to $1,265,000). Sales volume is 31.6% up year-over-year.
What This Means
Milpitas is showing signs of a stabilizing market after months of steady cooling. While the year-over-year median price drop of 9.7% might sound concerning, it reflects the broader normalization we've seen across the Bay Area as interest rates settled at higher levels. More telling is the month-over-month trend: prices dipped only slightly, suggesting we may be finding a floor. The 3.1% decline is modest compared to earlier seasonal patterns, and the improved sale-to-list ratio of 103.4% indicates sellers still have modest negotiating power despite the slowdown.
The real story lies in velocity. Homes are moving faster—average days on market fell from 82 to 70 days—and the year-over-year sales volume jump suggests pent-up demand is finally converting to transactions. This likely reflects a combination of spring seasonality and buyers testing the market after months of hesitation. With 127 active listings on hand, inventory remains relatively healthy without being overwhelming, giving both buyers and sellers reasonable choices.
The property mix skews toward single-family homes and townhomes, which aligns with Bay Area preferences. At $814 per square foot, Milpitas remains more affordable than neighboring tech hubs, positioning it as a practical choice for price-conscious buyers who don't mind the commute.
Milpitas Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 95035 | 50 | $1,265,000 | $814 | 70 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 20 | $1,490,000 | $966 |
| TOWNHOMES | 17 | $1,133,317 | $755 |
| CONDOS | 9 | $965,000 | $670 |
| MULTI_FAMILY | 2 | $9,100,000 | N/A |
| CONDO | 1 | $1,250,000 | $594 |
| MOBILE | 1 | $228,000 | $317 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| $200K - $299K | 1 |
| $500K - $749K | 1 |
| $750K+ | 48 |
Current Active Listings
As of this report, there are 127 active listings in Milpitas with a median asking price of $1,210,889 and an average of 54 days on market.
Thinking About Selling Your Milpitas Home?
If you're a homeowner in Milpitas considering selling, you have options. While the traditional market is one route, selling directly for cash can save you time, commissions, and the hassle of repairs and showings. We buy houses in Milpitas and throughout Santa Clara County — get a no-obligation cash offer today.