Recent public records show 12 residential properties sold in Milpitas, California, during the week of June 29. A single-family residence topped the list with a $2.2 million sale price.
The $2.2 Million Benchmark on Chysis Road
A single-family home located in the first block of Chysis Road emerged as the most expensive transaction of the week, closing on June 24 for $2.2 million. According to the Bay Area Home Report Bot,this property was constructed in 2014 and offers 2,468 square feet of living space, featuring four bedrooms and three bathrooms.
The sale price for the Chysis Road property translates to approximately $891 per square foot. This figure sits slightly above the weekly average for the area, suggesting that while the home's total price was the highest, its value was driven more by its size and relatively modern construction than by an extreme price-per-foot premium.
From $1,140,000 New Builds to 1960s Classics
The Milpitas market shows a curious pricing overlap between brand-new condominiums and aging single-family homes. For instance, a 1,455-square-foot condominium on Terracotta Court, built in 2022, sold for $1,140,000 on June 26. meanwhile, a much older home built in 1960 on Canton Drive sold for $1,350,000 on June 18.
This price gap highlights a persistent demand for detached housing in Milpitas, regardless of the build date. The Canton Drive residence, despite being over 60 years old, commanded a higher total price than the nearly new Terracotta Court condo, underscoring the inherent value of land ownership in the South Bay.
The $1,268 Per Square Foot Peak on Butano Drive
While the Chysis Road home had the highest total price, the most intense value density was found on Butano Drive. A single-family residence in the 1700 block of Butano Drive sold for $1,907,000 on June 22, reaching a peak of $1,268 per square foot.
This property, built in 1968, is significantly smaller than the top-priced home, with only 1,504 square feet of living area. As reported by the source, the home features four bedrooms and two bathrooms. The high price per square foot suggests either a high-end interior renovation or a highly coveted micro-location within the neighborhood.
Milpitas' $1.5 Million Average Amid Silicon Valley Pressure
The average sale price for the 12 registered transactions in Milpitas was $1.5 million, with an average cost of $878 per square foot. This pricing reflects the broader trend of the Silicon Valley housing market, where limited inventory and high-income tech employment keep entry-level prices high.
The diversity of the weekly sales—ranging from a $1,140,000 condo to a $2.2 million estate—indicates a market that caters to both first-time buyers and established professionals . The presence of multiple sales from the 1960s and 70s suggests that Milpitas continues to see a turnover of original mid-century housing stock.
Who is Renovating the 1960s Stock on Canton Drive?
A critical unknown in this data is the condition of the older homes at the time of sale. The source does not specify whether the 1960 Canton Drive home or the 1963 Glacier Drive home (which sold for $1.7 million) were sold as "fixers" or as fully modernized residences. This distinction is vital for understanding if the $1.5 million average is being driven by architectural preservation or aggressive flipping.
Furthermore, because this data is derived from digitized public records, it may not capture off-market transactions or private sales that have not yet been registered. It remains unclear if these 12 sales represent the full scope of activity or merely the visible tip of the week's real estate movement.
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