The median price for a home in Milpitas was $440,000 in October 2012, a nearly 26 percent increase over October 2011 prices. The number of homes sold was also up over last year too, with 57 Milpitas homes changing hands.
The price data was released on December 13 by the San Diego-based real estate tracking firm DataQuick.
According to DataQuick, nearly 7,800 Bay Area homes changed owners in October. The median price for a Bay Area home was $416,000.
The San Francisco Chronicle reports that the generally higher prices for homes are due to a confluence of tight supply, high demand and low interest rates on mortgage loans.
.Community Zip code Number Sold Percent Change Median Price Percent Change Highest Price Price per Square Foot Percent Change
.Milpitas 95035 57 16.3% $440,000 25.7% $1,250,000 $332 14.5%
More Milpitas real estate info:
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