Milpitas buyers came back in August, yet they paid about the asking price rather than bidding far over it.<\/p>\n
New contracts on Milpitas single-family homes nearly doubled in August 2026, to 21<\/b> from 11 in July, and active listings fell to 19<\/b>. That pulled months of inventory down to 1.36<\/b>, 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<\/b>, down from 104.1% in June and 101.6% in July, so demand returned without a return to bidding wars.<\/p>\n
The median sale was $1,775,000<\/b>, up 6.3%, but only 10 homes closed, and the median price per square foot fell 8.4% to $932<\/b>, 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.<\/p>\n August 2026 at a glance<\/p>\n The full Milpitas report, with the free branded PDF<\/p>\n 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.<\/p>\n