The median home in Loomis sold for $749,504 during the three months ending August 2026, up 17.1% from $640,000 a year earlier, according to newly released data from Redfin. But that headline gain rests largely on the size of the homes that changed hands rather than on broad price appreciation. The median price per square foot rose just 2.4% over the same period, from $432 to $442 — a gap of nearly 15 percentage points between the two measures. When the median jumps far faster than the per-square-foot figure, it typically signals that buyers were purchasing larger homes, which pulls the overall median up without reflecting a comparable rise in the underlying cost of each square foot.

A mix-shift, not a price surge

The divergence matters because the two numbers tell different stories about affordability. On a per-square-foot basis, Loomis prices are up only modestly year-over-year, closer to the pace of national home-price growth than the double-digit headline suggests. Nationally, the S&P/Case-Shiller index was up compared with a year ago, a modest increase.

This kind of split is easier to see in a small market. Only 19 homes sold in Loomis during the three months ending August 2026, down 17.4% from 23 a year earlier. In a community of roughly 6,800 residents, a handful of larger or higher-end transactions can move the median sharply, so the 17.1% figure should be read with that thinness in mind. The per-square-foot trend offers a steadier gauge of where prices actually sit.

Homes selling faster, and often above asking

Whatever the mix of homes, buyers moved quickly. The typical Loomis home went under contract in 12 days during the three months ending August 2026, down from 26 days a year earlier — meaning homes sold roughly two weeks faster than they did last summer. That pace has eased slightly from the prior period, when homes were selling in a median of 9 days, a normal shift as the summer market cools.

Competition remained firm. About 36.9% of homes sold above their list price, up from 26.1% a year ago, and the median home sold for 100.6% of asking — just above list. Inventory stayed tight at 39 active listings, down 4.9% from 41 a year earlier. At the current sales pace, that works out to about 2.1 months of supply, a level that generally favors sellers and leaves buyers with limited choice.

Affordability remains stretched

Even with per-square-foot prices rising only modestly, the cost of buying in Loomis is steep. At the current median price, a buyer putting 20% down and financing the rest with a 30-year fixed mortgage would face a monthly principal-and-interest payment of about $3,857. That is $591 more per month than a year ago, the combined result of the higher median price and a slight increase in borrowing costs. The 30-year fixed rate averaged 6.67% in August 2026, up from 6.59% a year earlier and 6.54% the prior month, according to Freddie Mac.

Measured against local incomes, the strain is clear. The median home in Loomis now costs about 9.2 times the median household income of $81,487, according to the U.S. Census Bureau — well above the level generally considered affordable. That monthly payment would consume roughly 57% of the median household’s monthly income, far above the 43% threshold lenders and housing analysts typically use to define affordability.

Longer-term perspective

Stepping back, Loomis prices have climbed 12.7% over the past five years, from a median of $665,000 in the three months ending August 2021. Two years ago, in the summer of 2024, the median stood at $655,000, and 28 homes sold — a reminder that today’s higher median comes alongside notably thinner sales volume.

Month to month, the median actually slipped 4.8% from $787,500 in the three months ending July 2026, and sales fell 20.8% from 24 homes to 19. Some of that pullback reflects the typical late-summer slowdown as the peak selling season winds down. Loomis’ population was essentially flat over the past year, holding at about 6,822 residents, so demand pressure in the market stems more from limited supply than from a growing population.