Milpitas Home Prices & Values

$716,000 Zillow Home Value Index What's This?  
Close

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 12.0% 1-year change
  • 6.4% 1-year forecast

Market Temperature: NeutralWhat's This?
Close

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Milpitas is $716,000. Milpitas home values have gone up 12.0% over the past year and Zillow predicts they will rise 6.4% within the next year. The median list price per square foot in Milpitas is $438, which is lower than the San Jose Metro average of $454. The median price of homes currently listed in Milpitas is $624,999 while the median price of homes that sold is $649,750. The median rent price in Milpitas is $2,685, which is lower than the San Jose Metro median of $2,750.

Foreclosures will be a factor impacting home values in the next several years. In Milpitas 0.8 homes are foreclosed (per 10,000). This is greater than the San Jose Metro value of 0.7 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Milpitas is 3.5%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Milpitas homeowners underwater on their mortgage is 4.9%, which is higher than San Jose Metro at 4.6%.

more
Relative ZHVI
- +

Milpitas Market Overview

Data through Aug 31, 2014
  • $716,000 ZHVI
  • 6.4% 1-yr forecast What's This?  
    Close

    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $624,999 Median listing price
  • $649,750 Median sale price
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Milpitas Market Health

Data through Aug 31, 2014
  • 9.4/10 Very healthy What's This?  
    Close

    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 4.9% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.5% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

0.8 homes Milpitas
0.7 homes San Jose Metro
4.3 homes United States
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Sunnyvale $1,089,400 Campbell $882,100 Santa Clara $797,800
Fremont $728,300 San Jose $719,500 East Foothills $716,200
Burbank $633,100 Newark $568,800 Alum Rock $492,700

Listings & Sales

Data through Aug 31, 2014
  • $438 Median list price / sq ft
  • $443 Median sale price / sq ft
  • 13.5% Listings with price cut
13.2%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Milpitas Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,823 Milpitas
$3,101 San Jose Metro
$1,328 United States
  • 1.5 Breakeven horizon What's This?  
    Close

    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2014)
  • $2,685 Rent list price
  • No data Rent list price / sq ft
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading