San Antonio, TX

The local market currently exhibits very weak conditions. The median listing price has declined significantly both month-over-month and year-over-year, alongside a reduction in new listings. While active listings have seen a modest decrease, the pending ratio remains low, indicating muted demand relative to available supply.

The median listing price registered a month-over-month decrease of 4.5% and a year-over-year contraction of 6.5%, settling at $429,900. New listings decreased by 5.9% over the past year, reaching 64. Active listings showed a year-over-year decline of 2.5%, totaling 317 properties. Median days on market improved by 8.1% year-over-year to 80 days. The pending ratio stands at 0.15, marking a 3.8% increase over the past year, while the share of price-reduced listings is 22.6%, a 4.5% decrease year-over-year.

The current environment indicates that available inventory is not being absorbed swiftly. A pending ratio of 0.15 suggests that the pace of transactions is subdued relative to the volume of active listings. The notable year-over-year decline in median listing price and the substantial share of price reductions imply that sellers are exercising price discipline to attract interest, reflecting a market with limited pressure on available supply.

The luxury segment, indicated by an average listing price of $603,050 compared to a median of $429,900, shows a considerable spread. The average listing price has declined by 14.5% over the past year. The median price per square foot is $243, representing a 5.6% year-over-year decrease.