Mortgage Rates Hit 7.40% — But There’s More to Our Local Housing Market Than Meets the Eye!

Here in San Joaquin County, the September housing numbers tell an interesting story. According to http://Realtor.com Economic Research, the Stockton-Lodi metropolitan area had 1,415 active listings, down 1.3% from a year earlier. New listings declined 11.8%, while the median asking price was $585,000, down 1.6% year over year. Homes spent a median 53 days on the market, and 23.3% of active listings had experienced a price reduction. Think about that for a moment. Fewer homes are coming onto the market, yet nearly one-quarter of available listings have had their asking prices reduced. That tells us buyers are still out there, but sellers need to pay attention to what today’s buyers are willing and able to pay. [2]

Looking more closely at our individual communities, September’s median sold price was $449,500 in Stockton, $520,000 in Lodi, $595,000 in Manteca, and $649,848 in Lathrop. Inventory varied considerably, with 1,030 active listings in Stockton, 262 in Lodi, 549 in Manteca, and 273 in Lathrop. Here’s something particularly interesting: Lathrop’s active inventory increased 31.91% compared with September 2025. That’s a meaningful difference from the broader Stockton-Lodi market, where inventory declined. For buyers considering Lathrop, comparing existing homes with new construction and exploring possible seller concessions may be especially worthwhile. For sellers, it reinforces why understanding the competition surrounding your particular property is essential. [3]

Up here in Amador County, we’re seeing a different pace altogether. September data from http://Realtor.com shows 541 active listings countywide, a median sold price of $445,000, and a median 73 days on market. In Ione, there were 82 active listings with a median asking price of $499,450 and 53 median days on market. Jackson had 78 active listings, a median asking price of $549,000, and 81 median days on market. That’s quite a difference between neighboring communities! Whether you’re selling a home in Castle Oaks, looking for property around Lake Camanche, or considering a move closer to Jackson, understanding the immediate competition is far more useful than relying on a statewide housing headline. [4]

Our neighboring Sacramento County communities offer another perspective. Elk Grove recorded 579 active listings and a September median sold price of $630,000, while Galt had 288 listings and a median sold price of $550,000. Rancho Murieta reported 80 active listings and a median sold price of $616,000. But there’s an important distinction I always want homeowners to understand: a change in median sale price does not automatically mean your home’s value changed by that percentage. Median prices reflect the homes that happened to sell during a particular period. Repeat-sales indexes, such as those produced by the Federal Housing Finance Agency and Case-Shiller, use different methodologies designed to measure changes in prices for the same properties over time. That’s why an accurate assessment of your home’s value requires looking at comparable properties, condition, location, and current buyer demand. [5]

There’s also important insurance news for California homeowners. The California Department of Insurance has established a one-year protection against certain insurance cancellations and nonrenewals following the Gann Fire for qualifying properties in portions of Amador, San Joaquin, Calaveras, Tuolumne, and Stanislaus Counties. In addition, California recently enacted new disaster-recovery insurance protections scheduled to take effect January 1, 2027. These developments reinforce why insurance availability, coverage, and cost deserve attention early in any real estate transaction. So here’s my advice this week: buyers, understand your financing and investigate the opportunities available in your specific market. Sellers, price your home according to today’s competition rather than yesterday’s expectations. And remember, whether you’re buying your first home, selling a longtime family property, or planning your next chapter, good decisions start with good information. Your home deserves more than a one-size-fits-all approach. [6]