Milpitas Real Estate Market Update - June 2025
Welcome to the June 2025 market update for Milpitas! In this post, we'll break down the current state of the local real estate market, highlighting key statistics and trends that are shaping the landscape.
Current Market Overview
Currently, we have 88 active listings, 37 homes pending, and 33 homes that sold in May. The market is definitely moving, even if it feels a bit quiet. This puts us at just over two and a half months of inventory with a pending to active ratio of about 42%, meaning buyers are still making moves, but they're being very selective in their choices.
Market Statistics
- Active Listings: 88 homes currently on the market
- Pending Sales: 37 homes in escrow
- Closed Sales (May 2025): 33 homes sold
- Median Home Price: ~$1.4 million
- Days on Market: 16 days on average
- Months of Inventory: 2.5 months
- Pending to Active Ratio: 42%
Inventory and Market Dynamics
The median price is holding steady at around $1.4 million and homes are selling at about 16 days on average. This is still a quick pace for Bay Area standards, especially for homes that show well and are priced correctly. Well-priced homes are moving fast in the current market conditions.
Development and Economic Growth
Milpitas continues to attract significant interest and investment. New construction projects like Parkside West by Tor Brothers are gaining traction, featuring modern townhomes starting at around $1.25 million.
The area is experiencing substantial economic development with over $450 million in new development happening, ranging from R&D facilities to advanced manufacturing. Additionally, Ravening just received approval for a new facility in Milpitas, adding even more momentum to the area and providing excellent prospects for long-term growth.
Market Outlook
If you're buying, there's more to choose from right now in the current market, but the homes that are priced right and show well are still moving quickly. Take advantage of the increased inventory while being prepared to act fast on the right property.
If you're selling, strategy and presentation really make a difference right now. Getting the price right and ensuring your home shows well are crucial factors for success in today's market conditions.
That's your Milpitas update for June 2025. If you want a plan that's built for this market, reach out to us - we're here to help guide you through today's real estate landscape!
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