Milipitas Real Estate

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Located in the heart of the Silicon Valley high-tech region, Milipitas, California, is in Santa Clara County, just north of San Jose. The community is home to the headquarters of many high-tech firms and has a population of more than 60,000. The community’s residents are more affluent than average, and thus the Milipitas real estate market is higher-priced than many surrounding areas, though prices are not as high as they were prior to the beginning of the U.S. and world recession.

In March, Santa Clara County Association of Realtors statistics show that there were 64 new listings of Milipitas homes for sale, putting total inventory at 106. This figure is up from February’s inventory of 92 but down from March 2009′s inventory of 111. March saw a total of 29 homes cleared off the list from closed sales, up from 24 in February and down by one from last March’s 30. Homes spent an average 50 days on the market before selling, up year-over-year from 43 and just 28 days in February.  The median price of homes sold in Milipitas in March was $500,000, up from $462,500 the month prior and from $442,500 one year earlier.

The condo market in Milipitas showed similar trends. There were 26 new listings of condos, putting March inventory total at 81, compared with 69 a year ago. There were 14 condo sales in the month, double February’s total and more than double a year ago, when there were just 13. Condos spent an average of 44 days on the market before selling, compared with 63 days one year ago. The median price for sold condos in March was $375,000, down slightly from February’s $380,000 but up significantly from one year ago, when the figure was just $300,000.

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