Homes in Granite Bay took considerably longer to find buyers this spring than they did a year ago. Newly released Redfin data for the three months ending June 2026 shows the median time on the market reached 24 days, up 60% from just 15 days over the same stretch of 2025. In a market where homes were changing hands in a little over two weeks last year, that shift means sellers are now waiting more than a week longer, on average, to close a deal.

A slower pace, but still a sellers’ market

Despite the slower sales speed, Granite Bay remains tilted toward sellers. The market carried just 2.2 months of supply during the period — the figure represents how long it would take to sell all listed homes at the current sales pace, and anything under about four months generally favors sellers. Active inventory stood at 164 homes, down 8.4% from 179 a year earlier, leaving buyers in this community of roughly 21,700 residents with limited choices.

The recent momentum tells a somewhat different story than the year-over-year comparison. Compared with the three months ending May 2026, the median days on market actually fell by a third, from 36 days to 24, a typical sign of the spring market picking up. Inventory also rose 10.1% month over month as more sellers listed heading into summer.

Homes are still selling close to what sellers ask. The median sale-to-list ratio was 99.6%, meaning the typical home sold just under asking, and 29.8% of homes sold above their list price. That share is down from 36.7% a year ago, another indication that the frenzied bidding of recent years has eased somewhat.

Prices hold firm as per-square-foot slips

The median sale price reached $1,415,979 during the period, up 4.9% from $1,350,000 a year earlier. Month over month, prices were essentially flat, rising just 0.1% from $1,415,000.

The price-per-square-foot figure paints a subtly different picture. At $418, it declined 3.3% from $432 a year ago, suggesting that buyers this spring leaned toward larger homes even as the overall median price climbed. In other words, the higher median may reflect the mix of homes selling rather than broad price appreciation on a size-adjusted basis.

Over a longer horizon, prices have risen 19.2% over the past five years, when the median sat at $1,188,000 in the three months ending June 2021. Two years ago, the median was $1,150,000, underscoring how much values have moved in a relatively short span.

Sales volume was slightly lower than last year, with 76 homes sold compared with 79 in the same period of 2025, a 3.8% decline. New listings also eased, totaling 107 versus 119 a year earlier.

Affordability remains a steep hurdle

Even with prices holding steady, buying in Granite Bay requires substantial income. At the current median price, the typical home costs 7.7 times the median household income of $184,606, according to the U.S. Census Bureau — well above the 5x threshold generally considered affordable, and among the highest ratios in the region.

The monthly cost of ownership illustrates the strain. Assuming a 20% down payment and a 30-year fixed loan, the principal-and-interest payment on a median-priced home works out to about $7,153 per month, or 46.5% of median household monthly income — above the level the National Association of Realtors considers affordable. That payment is $98 higher than a year ago, as the 4.9% price increase outweighed the drop in borrowing costs.

Mortgage rates provided modest relief compared with last year. The 30-year fixed rate averaged 6.49% in June 2026, down from 6.82% a year earlier, though it ticked up slightly from 6.44% in May, according to Freddie Mac data. Nationally, home prices continued to edge higher, with the S&P/Case-Shiller U.S. National Home Price Index up slightly year over year.

Taken together, the data shows a Granite Bay market that is still firmly in sellers’ favor by supply standards, but one where the tempo has cooled from the near-instant sales of a year ago. Buyers are taking longer to commit, fewer homes are drawing above-asking offers, and the size-adjusted price measure has softened even as the headline median climbed.