Brady and Son Realty

A Real Estate Team from Keller Williams Silicon City

Building Dreams, one Home at a Time.

Our Goal is to help you navigate the complexities of Silicon Valley Real Estate such that you are happy to recommend us to your family and friends.

2221 Oakland Road #268, San Jose, CA 95131

Phone: 408-868-8052

Milpitas

Milpitas hills

Milpitas Area Profile

Demographics: (2015)

  • Population: 71,533
  • Median Age: 37
  • households: 20,792
  • Median household Income: $100,242
  • Mean Property Value: $583,400

Business

  • Employees: 34,789
  • Top 3 professions: Computer and Mathematical; Management; Architecture and Engineering
  • Top 3 industries by # of employees: Manufacturing; Professional, Scientific, and Tech; Healthcare and Social Assistance
  • Average Commute: 24.8 Minutes

City Government

The City of Milpitas is governed by a city council comprised of 5 members, including the Mayor and Vice Mayor, each elected to staggered 4-year terms. The government itself is managed by a City Manager.

Milpitas Civic Center

Things to Do

GOLF:

Boating:

Other:

Hiking:

  • Coyote Creek Trail, Milpitas
  • Mission Peak Regional Park – 43600 Mission Blvd, Fremont
  • Alviso Marina County Park – 1195 Hope St. Alviso
  • Stevens Creek Trail
  • Bay Trail
  • Baylands Park, 999 E. Caribbean Drive

Parks and Rec:

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Cycling

The are numerous road bike routes in the East Bay, San Jose, and South Bay accessible from Milpitas:

  • The Calaveras Face – heading east up Calaveras Road presents a challenging climb then a long descent into Sunol with routes to Pleasanton and back through Niles Canyon and Fremont.
  • Mount Hamilton – a tradition of Bay Area cyclists known for its long, 13-mile ascent and spectacular view.
  • East Bay to Fremonth, Niles Canyon, then to Sunol and Pleasanton, or the back way up through Milpitas and the Calaveras climb
  • San Jose to Morgan Hill and Gilroy loops range from 20-60 miles

Mountain Biking

UNDER CONSTRUCTION

Theater, Concerts, and Museums in and around Milpitas

Area Theater and Concert Venues and Organizations:

Area Galleries and Museums:

Dining and Shopping

Places to Eat:

Places to Shop:

  • Westfield Valley Fair – 2855 Stevens Creek Blvd, Santa Clara
  • The Great Mall – 447 Great Mall Dr
  • Milpitas Square – Barber Ln, Milpitas
  • Serra Center – 200 Serra Way, Milpitas
  • McCarthy Ranch Marketplace – 136 Ranch Dr, Milpitas
  • Milpitas Town Center – E Calaveras Blvd, Milpitas

Education Opportunities

K-12 Schools Serving Milpitas

Public schools include links to ratings on Greatschools.org; private schools include links to their website.

Private:

Higher Education

Milpitas Real Estate Market

Milpitas Real Estate Trends: Average Sales Price and Average Sales to List Price Ratio by Month

The graph above shows average sales price and sales price to list price ratio for sales in Milpitas in in the past 12 months. Average sales have increase in price 15% since 2017 compared to 18% in 2018. The red line tracks the average sales to list price ratio. Here, as in much of Silicon Valley, overbidding has tailed off this year as inventory increased, After peaking at 18% over list, bidding is down to about 8% over list now.

Milpitas Real Estate Trends: Milpitas home sales by price range over the past 12 months.

This histogram details Milpitas sales by price range for the past 12 months. Here we see the peak sales are in the $1,200,000 to $1,400,000 range with about two thirds of sales below that range.

Milpitas Real Estate: 6-month Average: Days to Sell versus Price Range

The second rule of real estate after Location: Timing. Buyers and Sellers need to understand the time trends in the market. 

Sellers need to be aware of how long it might take to sell their home. Many variables affect this time, not the least of which is list price. Milpitas homes are, on average, priced to move, with nearly all price points selling in less than a month, on average.

For the buyers, it is important to understand how fast you have to move – not just in responding to a home you like, but in how frequently you need to check the market and how quickly you need to make arrangements to view the home. 

Here we see that homes sell in an average of 18 days or less in all price ranges. The peak in the $600,000-$800,000 price band is driven by five sales between 40 and 48 days and one after 104 days on market. Each of these six homes was over-priced when listed, and only sold once the market caught up with them.

Understanding Price is imperative both form the Seller’s and Buyer’s perspectives.

For the seller, pricing too high can be disastrous. Buyers will focus their attention on lower-priced listings first. So can pricing so low that buyers wonder what is wrong with the property.

Much the current Silicon Valley Market is deliberately priced low to spark interest, often resulting in multiple offers driving the price up as evidenced by the ratios over 100%. 

In Milpitas, on average, all price ranges sell between 6% and 17.4% over list on average.

Milpitas Real Estate:6-month Average Sale Price to List Price Ratio by Price Range

The photos below show the lowest and highest sale price homes in Milpitas so far in 2017

Milpitas Single Family Home Sales in the past 12 months:

This 1,040 sf 3br/1ba Milpitas fixer on a 7,872 sf lot that sold for $625,000 in April, 2018 holds the low price mark for single family sales in the past 12 months.

This 4,951 sf 4br/4.5ba home on a 65,340 sf lot that sold for $2,552,000 in January, 2018 holds the high price mark for Milpitas single family homes in the past 12 months.

Milpitas Condo and Town Home Sales in the past 12 months:

This 676 sf 1br/1ba that sold for $380,000 in April, 2018, holds the low price mark for Milpitas condominium and townhouse sales for the past 12 months.

This 1,951 sf 3br/2ba condo that sold for $1,370,000 in June, 2018 set a new high mark for Milpitas condominium and townhouse sales for the period.

Help me with Milpitas Real Estate

The accuracy of the information displayed in this site is not guaranteed. The user is advised to conduct their own investigations to validate any information on which purchase or sale decisions are made. Data from the Multiple Listings Service subject to applicable limits on accuracy and content.

Original content ©2018 Brady and Son Realty Team @ KW Silicon City . Referenced images and data subject to originator copyrights.