San Antonio Housing Market

San Antonio home prices fell faster than almost anywhere in the Sun Belt, a sharp reversal for a market that had been among the region’s most stable just a year earlier. Prices dropped more than in any major market outside Silicon Valley, giving buyers a rare break during the spring season—something they had not seen since 2021.

Falling prices drew buyers back into the San Antonio market, but higher mortgage rates kept many cautious. Sales stayed flat as a result. Still, the market outperformed much of the Sun Belt. San Antonio was the only major Texas market to avoid a drop in home sales over the past year.

San Antonio saw a modest rise in listings over the past year, in line with most major markets, even as it outperformed on sales and lagged on price gains. The market still tilted in buyers’ favor, but without the sharp inventory surge seen in Midwest cities like Columbus, St. Louis, and Minneapolis. Falling prices pulled more buyers off the sidelines and made already attractive pricing even more compelling. Steady sales helped prevent a larger buildup of unsold homes, keeping inventory growth in check.

San Antonio is one of the nation’s fastest-growing markets. Tens of thousands of people move to the metropolitan area every year, generating significant demand for housing, especially in the market’s expanding suburbs. Data on the spring homebuying season suggests that, while the market has largely been flat in terms of sales and listings over the past year, lower prices are encouraging some movement in the market.

The median home sale price in San Antonio decreased by 3.1% compared to the same time last year, while the national median price rose by 1.8%.

San Antonio median home prices decreased by $10,000 year over year on a nominal basis in May to $310,000. Meanwhile, the national median home price increased by $7,000 to $395,000.

San Antonio was the 35th highest-priced housing market among the top 40 largest markets last month. The San Antonio median home price of $310,000 was 21.5% below the national median home price. San Antonio's median home price in May compares to the market's peak of $335,000 recorded in June of 2022.

The median price of San Antonio single-family homes fell by $6,500 over the past year to $313,500, while the median townhome price declined by 5.2%, and the median condo price rose by 0.1%.

The number of homes for sale in San Antonio increased by 2.4% in May compared to the same time last year, while national homes for sale rose by 4.3%.

San Antonio homes for sale rose by 403 year over year in May to 17,007 homes for sale. San Antonio ranked 22nd, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in May.

San Antonio homes for sale were above their pre-pandemic levels in the month of May. San Antonio homes for sale were 31.5% above the May 2019 total of 12,932.

San Antonio single-family homes for sale grew by 2.2% to 16,205 in May. In comparison, townhomes for sale rose by 14.1% to 300, and condo homes for sale increased by 4.4% to 502.

The number of home sales in San Antonio remained the same in May compared to the same time last year, while national home sales dropped by 1.2%.

San Antonio home sales increased by one year over year on a nominal basis in May to 2,015. For context, 2,014 sales closed in San Antonio in May 2025.

San Antonio ranked 15th for the annual change in home sales out of the top 40 U.S. markets in May on a percentage basis. Home sales in May were flat compared to a 1.7% year-over-year decrease in May 2025.

San Antonio single-family sales increased by 0.3% in May to 1,956. In comparison, townhome sales rose by 43.5% to 33, and condo sales fell by 35.0% to 26.

For questions and commentary about this report:

Danny Khalil, Director of Market Analytics at CoStar and Homes.com, based in San Antonio, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Danny Khalil

Director of Market Analytics

Homes.com

dkhalil@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in San Antonio during May 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.