Loomis homes are sitting more than six weeks on the market, up from three

Homes in Loomis took a median of 47 days to sell in March, more than double the 21 days they took a year earlier and the slowest March pace in at least two years, according to newly released data from Redfin. The shift marks one of the clearest signs yet that the small Placer County town’s housing market has cooled from the frantic pace of recent years, even as a tight overall supply continues to favor sellers.

Prices fall, but per-square-foot tells a different story

The median sale price in Loomis was $815,000 in March, down 13.8% from $945,000 in March 2025. At the same time, the median price per square foot rose 12.1% year-over-year, from $385 to $432 — suggesting that the headline price drop reflects buyers gravitating toward smaller homes rather than a broad decline in property values. Month-over-month, the median sale price jumped 32% from $617,500 in February, but in a market this thin — just seven homes changed hands in March — a single high-end sale can swing the median significantly.

For longer-term context, the March median is up from $650,000 two years ago and $600,000 five years ago, leaving Loomis prices roughly 36% higher than their early-pandemic level.

Fewer sales, more choice for buyers

Sales volume slipped to seven closings in March, down from 10 a year earlier, while active inventory rose to 16 listings from 13. New listings ticked up to 11, compared with nine in March 2025. Together, those figures translate to about 2.3 months of supply — still technically a sellers’ market by the standard rule of thumb, but a looser one than Loomis buyers have seen in years.

Other indicators point in the same direction. The share of homes selling above list price fell to 14.3% from 20.0% a year ago, and 31.2% of active listings had a price cut in March, roughly double the 15.4% share from March 2025. Homes that did sell went for 97.6% of their asking price on average, meaning the typical seller accepted a modest discount.

By comparison, statewide California data showed the median sale price up 0.7% year-over-year to $855,300, with a median of 37 days on market — meaning Loomis is now selling more slowly than California overall and posting price declines while the state edges higher.

Mortgage rates ease the math, but affordability remains stretched

The 30-year fixed mortgage rate averaged 6.18% in March, down from 6.65% a year earlier, according to Freddie Mac data published by the Federal Reserve. Combined with the lower median sale price, that translates to a principal-and-interest payment of about $3,985 per month on a median-priced Loomis home with 20% down — roughly $869 less per month than the same purchase would have cost in March 2025.

Even with that relief, affordability remains a serious hurdle. The U.S. Census Bureau pegs Loomis’s median household income at $81,487, meaning the median home now costs about 10 times the typical household’s annual income, and a median mortgage payment would consume nearly 59% of monthly income — well above the 43% threshold the National Association of Realtors considers affordable. Loomis, with a population of 6,689 as of January 2025, has seen its headcount edge down 0.6% over the past year, easing some demand pressure.

Nationally, the S&P/Case-Shiller U.S. National Home Price Index was essentially flat year-over-year in March, indicating the broader U.S. market has stalled rather than reversed.

What it means for buyers and sellers

The March data paints a picture of a market in transition. Sellers still hold the upper hand on paper — supply is tight at 2.3 months — but the leverage has eroded meaningfully. Homes that flew off the market in three weeks last spring are now sitting closer to seven weeks, and nearly a third of listings are seeing price reductions. Buyers, meanwhile, have more inventory to choose from than at any point in the past two years and are facing somewhat lower monthly payments, though the underlying price-to-income gap remains steep.

Just 28.6% of Loomis homes went under contract within two weeks of listing in March, a sign that even desirable properties are taking longer to find their buyers.