San Antonio, TX

The local housing market exhibits cooling conditions, with a notable decrease in the median listing price and stable days on market. While new listings show an increase year-over-year, active inventory has slightly contracted, and the share of price reductions remains substantial, suggesting continued price adjustments.

The median listing price currently stands at $244,250, reflecting a 4.0% decline from the prior month and a 5.6% decrease over the past year. Concurrently, the median price per square foot is $153, a 2.0% decrease year-over-year. Active listings show a modest 4.8% decrease year-over-year, while new listings have increased by 9.1% over the past year. The median days on market remains unchanged year-over-year at 58 days. The pending ratio is 0.36, indicating a 3.9% increase year-over-year, suggesting some sustained activity despite price depreciation. The share of price-reduced listings is 25.2%, a 10.1% decrease from the previous year, yet still substantial.

Under current cooling conditions, price discipline among sellers remains paramount. The substantial share of price-reduced listings, despite a year-over-year decrease in this metric, suggests that a significant portion of the active inventory requires adjustments to align with buyer expectations. While the pending ratio has seen a modest year-over-year increase, the overall downward trend in median listing price and stable days on market indicate that buyers may find opportunities for negotiation, and sellers may experience longer marketing periods without strategic pricing.

The average listing price of $262,220 exceeds the median listing price of $244,250 by $17,970, indicating a segment of properties listed at higher price points. However, this average price also reflects a 2.2% decline over the past year, aligning with the broader market trend of price depreciation. The median price per square foot at $153, combined with a median square footage of 1,582, suggests a relatively consistent valuation across the majority of the market, even within the higher-priced offerings, that is now recalibrating.