San Antonio, TX

The market currently exhibits Very Weak conditions, characterized by a declining median listing price and a suppressed pending ratio. While active and new listings have decreased year-over-year, the overall market remains soft, reflecting persistent downward price pressure and extended marketing timelines.

The median listing price has experienced a notable year-over-year decrease of 5.2%, with the median price per square foot also falling by 4.8% over the past year. Despite a 16.9% year-over-year reduction in active listings and a 10.0% decline in new listings, inventory levels remain sufficient relative to demand. The median days on market increased by 1.7% year-over-year to 91 days, indicating slower absorption. The share of price-reduced listings is currently 27.6%, a marginal increase of 0.1% year-over-year, suggesting ongoing adjustments to pricing expectations.

The current pending ratio of 0.15, while showing a 5.1% year-over-year increase, indicates a low rate of new contract activity relative to available supply. This translates to reduced pressure on available inventory, allowing for greater price discipline among prospective purchasers and extended negotiating windows. The extended marketing period underscores a reduced sense of urgency for buyers, suggesting that properties typically remain available for consideration for a longer duration.

The average listing price of $322,964 significantly exceeds the median listing price of $250,000, illustrating a substantial price dispersion. This differential, alongside a median price per square foot of $183, suggests that higher-value properties command a premium, though the overall market is experiencing downward price pressure.