Milpitas Real Estate Market Update: Essential Insights and Key Trends for February 2025

Milpitas Real Estate Market Update: February 2025

The housing market in Milpitas is still very active as we move into 2025. Whether you’re looking to buy, sell, or invest, it’s important to understand the latest trends in home prices, how many homes are available, and what the future might hold. Let’s go over the latest updates from Zillow and other sources to help you make the best decisions.

Home Prices Are Going Up

Right now, the typical home value in Milpitas is $1,479,752, which is a big jump from $1,354,776 last year. This means homes are still in high demand because of Milpitas’ great schools, strong job market, and its location near Silicon Valley.

However, even though prices are increasing, they are not rising as fast as before. The forecast shows that home values will only go up by 0.2% over the next year, so price growth is slowing down. This is good news for buyers who may find it easier to negotiate a deal, while sellers can still benefit from a strong market.

Homes for Sale and Recent Sales

There are currently 61 homes for sale in Milpitas, giving buyers plenty of choices in terms of size, location, and price. More homes are becoming available, with 24 new listings added in December 2024. This means there are more options for buyers, which could lead to slightly less competition compared to past years.

Looking at recent sales, the market remains strong. In November 2024, the median sale price was $1,320,417, showing that prices are staying steady. Interestingly, 70.1% of homes sold for more than their list price, proving that buyers are still competing for homes. Sellers who price their homes right can still see multiple offers, but overpricing may lead to a longer selling time.

Advice for Buyers

If you’re thinking about buying a home in Milpitas, this could be a good time to start looking. Since prices are not rising as fast, buyers might have more power to negotiate. With more homes on the market, you’ll have a better chance of finding one that fits your needs without feeling rushed to make an offer.

One important thing to keep in mind is mortgage rates. Interest rates have been changing, and even a small increase can make a big difference in your monthly payments. That’s why working with a real estate agent and a trusted lender can help you lock in the best possible rate.

Advice for Sellers

For homeowners thinking about selling, home values are still high, which is great news. However, with more homes coming onto the market, sellers need to price their homes wisely. Overpricing a home in a cooling market can mean it takes longer to sell.

Buyers today are also looking for homes that are move-in ready. Making small upgrades and staging your home properly can make a big difference in attracting offers. Offering incentives like covering closing costs or minor repairs can also help bring in serious buyers.

Looking Ahead: What to Expect in 2025

Milpitas is expected to stay a popular place to buy a home because of its great location, strong local economy, and high quality of life. While home prices are still rising, they are doing so at a much slower pace, making it easier for buyers to enter the market.

Both buyers and sellers should keep an eye on trends, mortgage rates, and inventory levels. Whether you are planning to buy, sell, or invest, having a knowledgeable real estate agent can make all the difference in making a smart decision in today’s market.

Final Thoughts

The Milpitas real estate market in 2025 offers opportunities for both buyers and sellers. While home prices are still going up, the rate has slowed, leading to a more balanced market. Whether you want to buy your first home, sell your current property, or invest in real estate, staying informed will help you make the right moves.

If you’re thinking about buying or selling in Milpitas, now is a great time to start planning. Reach out to a local real estate expert to talk about your goals and find the best options available today.