Milpitas buyers came back in August, yet they paid about the asking price rather than bidding far over it.
New contracts on Milpitas single-family homes nearly doubled in August 2026, to 21 from 11 in July, and active listings fell to 19. That pulled months of inventory down to 1.36, about 36% lower than July as RPR now counts it, and firmly a seller’s market by supply. The average sale still closed at just 100.3% of list, down from 104.1% in June and 101.6% in July, so demand returned without a return to bidding wars.
The median sale was $1,775,000, up 6.3%, but only 10 homes closed, and the median price per square foot fell 8.4% to $932, its lowest since early 2024 on RPR’s chart. With so few sales, the higher median most likely reflects which homes sold rather than a citywide rise in value. The report does not break out home size, so that is an inference.
August 2026 at a glance
The full Milpitas report, with the free branded PDF
Every price across the pipeline, the months-of-supply dial, where August sits in a five-year view, and a three-page PDF you can download and keep.
This dispatch is a summary. The complete piece is published on harvrealtor.net.
Recreated from Bay East Association of REALTORS® and RPR market-trends data for Milpitas single-family homes, citywide. Information deemed reliable but not guaranteed. Header image: an AI illustration of a typical Milpitas street, not a photograph of any specific home or listing. Harv Balu, REALTOR®, DRE #02195792, REALTY EXPERTS®. Equal Housing Opportunity.