San Antonio-New Braunfels, TX

The current market dynamics suggest a recalibration of pricing expectations, with a significant 28.0% of listings experiencing price reductions. The elevated level of active inventory relative to demand, as indicated by the pending ratio, suggests that properties are taking longer to absorb, placing pressure on price discipline and potentially extending marketing periods for sellers.

The average listing price has declined by 2.1% year-over-year, while the median listing price has seen a 1.8% year-over-year reduction, and median price per square foot is down 3.6%. This indicates some softening across price points, with particular pressure at the higher end as the average price has declined more than the median.

14,325 active listings represent the current floor, with new supply arriving at roughly 3,656 per month.

of active listings carry a price reduction, +1.2% from prior period.

Median price per square foot has moved -3.6% year-over-year.

Pending-to-active ratio — Cooling.