More homes sold in Davis this spring than a year earlier, a sign of steady demand in the university town even as the median sale price drifted lower. According to newly released data from Redfin, 143 homes sold in the three months ending June 2026, up 5.2% from the 136 sold in the same period a year ago — and up 13.5% from the prior three-month window ending in May, a pickup consistent with the seasonal spring buying surge.

Sales pick up while prices ease

The rise in transactions came alongside a modest decline in prices. The median sale price reached $817,055, down 3.9% from $850,000 a year earlier. On a per-square-foot basis, the softening was gentler: $494, down just 1.1% from $499 in the same period last year. The smaller drop in price per square foot suggests the decline in the headline median reflects a shift toward smaller or lower-priced homes changing hands, rather than a broad markdown across the market.

Prices also eased month-over-month, slipping 1.8% from the $832,000 median recorded in the period ending in May. Even so, values remain higher than they were five years ago — the median sale price has risen 4.8% since the three months ending June 2021, when it stood at $780,000. Prices remain below the $865,000 median seen two years ago, in the three months ending June 2024.

A market still tilted toward sellers

Despite easing prices, the balance of the Davis market continues to favor sellers. Active inventory stood at 257 listings, up 5.3% from 244 a year ago, but relative to the pace of sales that supply remains thin. At the current sales rate, Davis has just 1.8 months of supply — well below the roughly six months typically considered a balanced market, and a level that leaves buyers with limited choice.

Homes are still selling quickly, though slightly slower than a year ago. The median time on market was 17 days, compared with 16 days in the same period last year — a marginal change of about a day. Compared with the prior period, however, homes took noticeably longer to sell: the 17-day figure is up from 12 days in the three months ending May, a 41.7% increase that reflects rising inventory as the spring listings accumulated. For longer-term perspective, homes were selling in about nine days two years ago.

Competition among buyers remained evident. The typical home sold at 100.3% of its asking price, meaning sellers generally got slightly more than they asked, and 35.1% of homes sold above list price — up from 29.4% a year earlier.

Affordability and borrowing costs

Affordability remains a significant challenge in Davis, a city of about 66,000 residents. The median-priced home now costs roughly 9.1 times the median household income of $90,045, according to the U.S. Census Bureau — far above the 3x threshold generally considered affordable and well beyond the 5x mark often used to flag strained markets. A buyer purchasing the median-priced home with 20% down would face a monthly principal-and-interest payment of about $4,127, equal to 55% of the median household’s monthly income.

Lower borrowing costs have offered some relief compared with a year ago. The 30-year fixed mortgage rate averaged 6.49% in June 2026, down from 6.82% in June 2025, though up slightly from 6.44% in May. Combined with the year-over-year dip in prices, that rate decline means a buyer of the median-priced home would pay about $315 less per month than a year earlier — roughly $4,127 now versus $4,442 then.

Nationally, home prices continued to rise modestly, with the S&P/Case-Shiller U.S. National Home Price Index up slightly year-over-year, a contrast with the small decline recorded in Davis over the same period.

What the numbers add up to

Taken together, the June data describe a Davis market where demand held firm — sales rose both year-over-year and from the prior period — even as the median price gave back some ground. With less than two months of supply and more than a third of homes selling above asking, sellers retained the advantage, though the buildup of inventory and the lengthening days on market from the prior period point to a market that is gradually loosening from its tightest spring conditions.