Milpitas Housing Market: Are Home Prices Starting to Shift?

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As a longtime Milpitas real estate professional and resident, I pay close attention not only to statistics but also to what I’m seeing firsthand at open houses, in offers, and in conversations with buyers, sellers, and other agents.

This week, affordability is an important part of the conversation. A recent San Jose Mercury News article raised the issue of whether home prices need to fall for housing to become more affordable.

The answer for our local market isn’t as simple as looking at prices alone. Interest rates, inventory, property type, price range, and buyer circumstances all play a role.

📊Market Highlight

• Milpitas single-family detached homes recorded an average price of $1.68 million and a median price of $1.544 million in the September 2026 statistics discussed in this update.

• Mortgage rates remain an affordability challenge, with the 30-year fixed conforming rate quoted at 7.45% in this week’s update.

• Milpitas condos are experiencing a softer market, with an average price of approximately $857,000 amid higher available inventory.

• Buyer activity is still present: approximately 60 groups visited the recent three-day open house at 1722 Pebble Beach Court in Summitpointe.

• Different price points and property types are behaving differently, making neighborhood- and property-specific information especially important for Milpitas buyers and sellers.

As a longtime Milpitas real estate professional and resident, I pay close attention not only to statistics but also to what I’m seeing firsthand at open houses, in offers, and in conversations with buyers, sellers, and other agents.

This week, affordability is an important part of the conversation. A recent San Jose Mercury News article raised the issue of whether home prices need to fall for housing to become more affordable.

The answer for our local market isn’t as simple as looking at prices alone. Interest rates, inventory, property type, price range, and buyer circumstances all play a role.

Higher Interest Rates Continue to Affect Affordability

The mortgage rates discussed in this week’s video included a 30-year fixed conforming rate of 7.45% and a 15-year fixed conforming rate of 6.99%. A 15-year fixed jumbo rate was quoted at 6.75%.

When rates are elevated, buyers may qualify for less or face a higher monthly payment on the same purchase price.

That can create a challenge when home prices are also high.

However, not every buyer reacts to rates in the same way. At the higher end of the Milpitas market—particularly around the $3 million price range—I’m seeing buyers who may have larger down payments and whose decisions may be influenced more by stock-market performance and their overall financial position.

That is one reason broad headlines don’t always tell us exactly what is happening in an individual Milpitas neighborhood or price range.

Where Milpitas Home Prices Stand

I reviewed September 2026 closing statistics for Milpitas and found a modest decrease in single-family detached home pricing.

The average price was approximately $1,680,000, while the median price was approximately $1,544,000.

Those figures provide a useful snapshot, but averages and medians are only starting points when determining the value of an individual property.

Location, school area, condition, lot, floor plan, upgrades, views, and current competition can all affect how a particular Milpitas home performs.

Milpitas Condos Are Telling a Different Story

One of the most interesting parts of the current market is the difference between single-family homes and condos.

The average Milpitas condo price in the statistics I reviewed was approximately $857,000. Not too long ago, that figure was above $1 million.

Inventory is an important part of this change.

Milpitas has added significant condo inventory over time, giving buyers more properties to choose from. When buyers have more choices—and borrowing costs are elevated—sellers may face greater competition.

For buyers, that can mean more opportunities to compare properties carefully rather than feeling they need to make an immediate decision.

For sellers, it makes pricing, preparation, presentation, and an understanding of the competing inventory especially important.

Strong Activity at Summitpointe

Statistics tell one part of the story. Open houses tell another.

I recently held three open houses at 1722 Pebble Beach Court, a four-bedroom, four-bath home of approximately 2,800 square feet in the gated Summitpointe community.

The home features three decks and panoramic valley views and was listed at $2,798,888.

Across Friday evening, Saturday, and Sunday, we welcomed approximately 60 visiting groups.

I also wrote an offer for buyers who came through the property, and additional agents were working with potential buyers following the open houses.

That activity is an important reminder: even with affordability concerns and higher interest rates, qualified buyers are still looking for the right Milpitas property.

Recent Sale and Upcoming Milpitas Homes

Another example is 1750 Tahoe Drive, a four-bedroom, two-bath Parktown home of approximately 1,504 square feet in the Sinnott Elementary School area.

Instead of making unnecessary improvements, we decided to clean the existing carpet and present the well-maintained property as it was. We received a preemptive offer before the weekend open house, and the property is scheduled to close at $1,690,000.

I also have 1081 North Abbott Avenue, a three-bedroom, two-bath downstairs condo of approximately 1,174 square feet with an outdoor patio, offered at $745,000.

Coming soon is 1828 Big Bend Drive, a four-bedroom, two-bath Parktown home of approximately 1,737 square feet in the Sinnott Elementary School area, offered at $1,799,000.

Another upcoming property is 2393 Lacey Drive, with five bedrooms, two-and-a-half bathrooms, and approximately 1,980 square feet, expected to be offered at $1,799,000. We plan to prepare that property with paint and new carpeting before bringing it fully to market.

I’m also working on a probate property on Lacey Drive that is expected to be sold as-is. I’ll have more information on that opportunity as the property gets closer to being ready for sale.

What This Means for Milpitas Buyers and Sellers

The current Milpitas real estate market reinforces something I’ve seen many times over the years: there isn’t one market that applies equally to every property.

Condos can behave differently from single-family homes. Entry-level buyers may respond differently to interest rates than buyers shopping near the $3 million range. Even two homes in the same neighborhood can receive very different responses depending on their condition, location, pricing, and presentation.

For homeowners—especially those who have owned their Milpitas property for many years—online estimates and broad market headlines may not provide enough information to make an informed decision.

Understanding the most recent comparable sales, current competition, buyer activity, and your individual goals provides much better context.

Staying Informed About Milpitas Real Estate

Affordability continues to be an important issue, and both prices and interest rates deserve attention. At the same time, recent local activity shows that buyers are still participating when the right property becomes available.

I’ll continue monitoring Milpitas home prices, inventory, interest rates, and what buyers are doing in real time.

If you’d like to discuss a Milpitas property, one of my coming-soon listings, or your plans for 2027, I’m always happy to have a conversation and provide personalized local guidance.

Debbie Indihar Giordano
Master Brokers
Milpitas, CA
408-945-8988
giordanodj@aol.com

#BestRealEstateAgentinMilpitas

Give me a call, 408-945-8988, or send me an email, Giordanodj@aol.com. And of course you can always visit my website, www.DebbieGiordano.com. There’s a connect, tab me and it’ll just zoom right into me and we’ll be able to get together. I’m ready to go to work for you.

🚨Leverage for Buyers?…

I know some people won’t agree, but right now could be a great time to buy a home. 

Not because homes are cheap.

Because buyers finally have leverage.

A few years ago, buyers waived inspections, paid over asking, and competed against 20 other offers.

Zillow found that 75% of recent buyers surveyed in 2022 had at least one regret.

Today, buyers in many markets can negotiate on price, repairs, closing costs, and even interest rates.

Here’s my advice:

Don’t just negotiate the price.

Negotiate what the seller pays for.

The best deal isn’t always the lowest price. It’s the lowest total cost of owning the home.

🙂

Take a look at my listings to see our track record: https://debbiegiordano.com/FeaturedListings

Please leave some kind words by clicking HERE

Thank you

Interest Rates – Up to the minute information on the Milpitas real estate market.

Mortgage rates remain an important part of the conversation for both buyers and sellers.

In this week’s update, I reported the following mortgage rates:

• 30-year fixed conforming: 7.45%
• 15-year fixed conforming: 6.99%
• 15-year fixed jumbo: 6.75%

Those rates are high compared with what buyers became accustomed to a few years ago, so affordability remains an important consideration.

For sellers, higher rates don’t necessarily mean buyers have disappeared. Instead, buyers may be more selective about the homes they pursue and the prices they’re willing to pay.

That makes local knowledge and careful preparation especially important.

Rates can change, of course, so buyers should always discuss current pricing, qualifications, and loan options directly with a qualified mortgage professional.

Mortgage rates are national averages and can change daily. Actual rates vary based on loan type, credit, down payment, points and other borrower-specific factors.

In this Video, I’ll talk about some listings, exciting new inventory I have coming up.

We’re ready to get your property ready. Give me a call 408-945-8988 or giordanodj@aol.com. Let’s talk, let’s get together and let’s see what we can do about this 2026 upcoming market. Thank you for watching.

Coming Soon! and OPEN in Milpitas & San Jose by Debbie Giordano Realtor Milpitas, CA

New Listing Spotlight

Country Club Area of Milpitas

1722 Pebble Beach Court in Summitpointe

$2,798,888

Panoramic view

3 or 4 bedroom, 4 full baths, 2,800 square feet.

Gated Community near Bayview Golf Course

Easily maintained yards

Three fireplaces, a nice master retreat!

Open House: Friday October 16th 6-8 PM and October 17th & 18th 2-4 PM had around 60 attendees.

OPEN HOUSE Scheduled October 24 2 pm – 4 pm

In Contract 

3371 Hostetter Road, San Jose 95132

Scheduled to close at $1,660,000

That property required a different strategy. After considering the market, economic factors and the alternative of renting the home, the seller ultimately decided to move forward with a sale.

• Four bedrooms plus a den (potential fifth bedroom)
• Two bathrooms
• Primary suite downstairs
• Beautifully upgraded kitchen
• Amazing backyard with pergolas, patios and a fire pit
• 1,778 square feet
• Offered at $1,790,000

1081 North Abbott Ave. Milpitas

I’m also excited about a new three-bedroom, two-bath condominium at 1081 North Abbott Avenue in the Dixon Landing area of Milpitas.

It offers approximately 1,143 square feet and is a downstairs corner unit with views of open space and a wraparound patio.

The sellers are moving out of state, so once they move, we’ll complete a quick refresh with painting, cleaning, and staging.

I expect to have it ready for the market shortly afterward.

Offered at: $745,000

1750 Tahoe Drive, Milpitas

In Contract before the Open House – Preemptive offer above listing price. Closing at $1,690,000

Located in Parktown, this beautifully maintained home offers:

• Four bedrooms
• Two bathrooms
• Separate family room
• 1,504 square feet
• Fresh exterior paint
• Updated interior

Best of all, it’s only a block from Sinnott Elementary School and Rancho Middle School—one of Milpitas’ most desirable neighborhoods.

Offered at: $1,698,888

1662 Everglades Drive, Milpitas – SOLD

In Contract appx $1.35 million

Also located in Parktown:

• Three bedrooms
• Two bathrooms
• 1,249 square feet

We initially considered selling it as-is at $1,398,888. However, after receiving a contractor’s proposal, we’re considering completing a strategic refresh.

More Listings

• 1464 Edsel Drive — $1.5 million
• 391 Monmouth Drive — $1.7 million
• 1828 Big Bend Drive
• 2345 Lacey Drive
• 2393 Lacey Drive, also in Milpitas. It’s in the Foothill Estates. $1,799,000 – COMING SOON – CALL FOR MEMBERS ONLY SHOWING

I’m currently working with several additional sellers, so stay tuned for more coming-soon opportunities before they hit the MLS.

Coming Soon

🔜 390 Monmouth Dr. Milpitas 5 bedroom 3 bath 1775 sq. feet $1,700,000  

🔜 Coming soon 479 Heath Dr. Milpitas 4 bedroom 2 bath Manor area! 1,328 sq. ft. They’re looking to locate out of Milpitas and that’s a four bedroom. We don’t have a price point on that one.

🔜 Coming soon 385 Monmouth Drive coming up. 4-bedroom, 2 bath, about 1,436-sq. ft., 6,000-sq. ft. lot in a nice established neighborhood. We don’t have a price on that one yet.

🔜 Coming soon Scott Creek Highlands area 2350 sq. ft. one story, 3-car garage. Setting a price soon.

✔️ Schedule an appointment to discuss getting your home ready for the market. 1-408-858-5771

I’m anxious to work for you. Call me and we’ll get an individual appointment and I’ll come see your property and do the assessment and let you know what I think we need to do to get it ready.

Call me at 408-945-8988 or visit my website, DebbieGiordano.com. There’s a Connect Me tab and you can get me directly there. So thank you for watching. 

When is the Right Time to Sell?

I don’t think you can time the season per se. Whatever looks good for your family and your family’s timing. It’s really predicated on the general economy, and we’ve had a great stock market ride in the last three months. It’s gone back up, and I know that that’s really helped bring more buyers to the table. So please don’t be shy. If you’re ready to go, you’re thinking about moving, call me, get me in to see the property. We’ll talk about what you need to do to get it prepped and get it ready to go and be ready for this great, amazing market.

💲Condominium Buy Before Sell Program

Ask about the buy-before-sell program for condos.

I’d invite you also, as we close, to go to my website. https://Debbiegiordano.com, there’s a tab that says team video. If you want to see how I work, I’ve got my team on there, my transaction coordinator, inspectors, sign people, my stagers on there, and you can see what my team encompasses and what we do to put together a package to productively list your home and get top market value for your properties, I’m ready to serve you.

If you want to get your home ready, let me know. Call for #BestRealtorinMilpitas 1-408-945-8988.

And I do look forward to speaking with you next week again.

Please leave some Kind Words | Most important are your results and sharing how you love working with me. I would love you to share your testimonial with me! https://rvu.today/debbiegiordano

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Your Team when you list your home with Debbie Giordano of Master Brokers!

Closing Thoughts

Every market cycle brings opportunity when you understand what’s happening locally. If you’re considering a move this year—or just want to stay informed—I’m always here as a resource.

Debbie Indihar Giordano
Master Brokers | Milpitas & Silicon Valley
📞 408-945-8988 | 🌐 DebbieGiordano.com
#BestRealEstateAgentinMilpitas

Testimonials

We would like to express our sincerest appreciation for Debbie Giordano for her quick action on selling our house. We sincerely believe she is the best real estate broker covering the southern San Francisco Bay Area.

We currently live in Arizona and was definitely not looking forward to spending several weeks in the bay area while we fixed up our Milpitas property to sell. We have had renters in our house for the past six years.

Debbie not only took the reins on this effort, she charged full force straight into the thick of things. She managed to arrange the repairs in one week. She also staged the property and put it on the market. The house never looked good in the 35 plus years in which we lived in the house. Due to her valiant efforts, the house sold in just one week, and we received what were hoping to get out of the house.

Thank you, Debbie for all you did for us. It is truly remarkable that you pulled a rabbit out of the hat. Your efforts surpassed our greatest expectations.

Thank you again.

Steven & Charleen Stoner

7-24-2025

Thank you Debbie.

Even though you have taken the reigns on our MiIpitas house, and are driving forward with this; I just want to make it official that Charleen and I would like you to be our realtor for our Milpitas house until it is sold. We appreciate everything you have done thus far. Charleen and I were really comfortable with talking to you when you came out to our house and we look forward to a prosperous conclusion for the both of us. We will work with Melissa to get the documents signed.

Steve

6-19-2025

My brother and I knew that selling our family home with Debbie was going to give us the best experience possible. But what neither of us realized was how incredibly cutting edge she is about the Milpitas market, how networked and how committed she is to her clients. She stood by us and was alongside us every step of the way. Her passion and compassion are stellar. It is safe to say that neither of us have enjoyed going through the home sale process, but Debbie made it seamless and we will always be grateful to her and her great team for their amazing professionalism and care.
Thank you Debbie for all that you do!

Gloria Sherman Gallegos and Matt Sherman

6-22-2025

Thank you for the kind words:

We were impressed with Debbie’s familiarity of Milpitas from our very first meeting. Her knowledge of the local housing market and our neighborhood including schools and businesses made us feel very comfortable. She is on top of an everchanging market.

Debbie toured our home and gave us an honest assessment; she advised us on updating a few things that will make our home stand out from the others. She has a very good team of subcontractors to help with any upgrades or repairs that are needed. These subs are very respectful, on time and do quality work.

During this process, communication with Debbie and her team was outstanding. They kept us informed every step of the way.

Debbie has a staging team that transformed our home to maximize its appeal to buyers. This process was flawless and really showcased the home.

Working with Debbie was truly a positive experience. She worked very hard at keeping everything organized and on schedule.

We highly recommend Debbie. Her expertise, dedication and professionalism made the sale of our home enjoyable and successful.

Thank You Debbie

Matt & Karen

August 14, 2025

What Our Clients Say

Debbie assisted us in selling our family home several years ago and we were so impressed with her dedication, expertise, and friendly approach, we contacted her again when we interested in purchasing a property.

This time around was no different, Debbie’s communication was prompt and effective, keeping us informed every step of the way. She was always available to answer our questions and provided regular updates throughout the process. When unexpected issues arose during the buying process, Debbie’s problem-solving expertise shone through. She quickly found solutions making the closing process easier and less stressful for us.

We highly recommend Debbie to help with all of your home buying and/or selling needs!

~ John & Kathy ~

Message us today!