San Antonio Housing Market Report March 2025

Staying informed about the San Antonio housing market is crucial, whether you're looking to buy or sell. See what’s happening in the San Antonio housing market and how broader economic trends and local activity are creating a more balanced and confident real estate environment.

The San Antonio housing market, while facing the challenge of higher mortgage rates, is experiencing a resurgence. The shift is fueled by steady growth in listings, up 18% from last year, alongside stronger buyer activity and proactive efforts from sellers with smart marketing and builders with attractive incentives. This creates a balanced market that presents fresh opportunities for both buyers and sellers to participate confidently.

• More Homes Available — Homes for sale increased by 18% year-over-year and 2% compared to February.
• Prices Tick Up — The median home price sits at $315,449, a 2% increase year-over-year and an 8% increase from last month.
• Increased Days On Market — Homes are spending an average of 87 days on the market, up by 8 days compared to March 2024 and up 4 days month-over-month
• Buyer Demand Improves — Pending sales decreased by 7% yearly, but increased by 18% from last month.
• Home Sales Trending Higher — Sales declined 8% year-over-year but rose 16% from February.
• Housing Supply Climbs– Inventory currently stands at 5.09 months, an 18% increase from March 2024 and a 3% increase from last month.
• Market Snapshot – Over 14,000 homes are on the market, selling for an average of 93.6% of their original list price. Realty San Antonio Compass listings excel, achieving 98.25% of their original list price.

Buyers Enter the Market with Confidence

The San Antonio housing market has shifted away from the fast pace of previous years. With more active listings and homes spending an average of 87 days on the market, buyers have the chance to make more thoughtful decisions. Instead of rushing into offers, they’re taking the time to tour multiple properties, weigh builder and seller incentives, and negotiate terms that fit their budget and needs.

This return to a slower pace doesn't mean that the demand for housing has disappeared. Pending sales have risen by 18% compared to last month, showing that buyers are still actively looking for homes but are coming into the market with greater confidence, and nationally, new home mortgage applications increased 5.5% from February.

Pro Tip: A local expert does more than unlock doors; they unlock smarter choices. Get expert guidance to find the right home at the right price.

Home Prices Hold Firm Amidst Tariff Changes

Despite challenges in the market, San Antonio’s home values are holding their ground. The current median home price of $315,449 is 2% higher than last year and 8% higher than last month, proving that demand is still strong. While some sellers are adjusting prices to stay competitive, most homes are selling at 93.6% of the original list price. This means buyers are getting more negotiating power, and sellers who work with an agent to price their home competitively are still seeing results. With tariffs on construction materials predicted to increase, the cost of building may go up, possibly keeping existing home prices stable for the upcoming months.

“Today’s buyers are taking their time, exploring more options, and feeling more confident about their decisions,” said John Coake, Senior Vice President at Realty San Antonio Compass. “At the same time, sellers who price their homes thoughtfully and present them well still see strong interest.”

Mortgage Rates and The Fed

The Federal Reserve held interest rates steady in March, staying within the 4.25–5.25% range. Fed Chair Jerome Powell noted that while they’re in no rush to cut rates, they’re closely watching inflation and the job market. Right now, mortgage rates are still high, averaging about 6.7%. But there’s some good news! HousingWire Lead Analyst Logan Mohtashami said on April 17th that rates had been trending down all week, which is a positive sign for buyers. If the economy cools as expected, rates could continue to decline. Fannie Mae is currently forecasting that mortgage rates could fall to around 6.3% by the end of the year, potentially giving buyers a bit more breathing room.

Homeowners Insurance Affecting Affordability

While most of the country’s eyes are on mortgage rates, homeowners' insurance is quickly becoming another piece of the affordability puzzle. Premiums have jumped nearly 40% in just two years, with the average now close to $6,000 a year. For many buyers, that adds a surprising hit to the monthly budget. But people are getting creative by shopping around, bundling their policies, and making changes to lower their risk, like installing security systems or weatherproofing their homes.

There is some hope on the horizon, though. State leaders are looking into a new proposal that would make it harder for insurance companies to hike rates without approval from the Texas Department of Insurance. 

Pro Tip: A local expert does more than unlock doors; they unlock smarter choices. Get expert guidance to find the right home at the right price.

San Antonio’s Growth Through Housing Initiatives

San Antonio is ramping up efforts to expand affordable housing with nearly 3,000 homes already under construction through its 10-year Strategic Housing Implementation Plan (SHIP), aiming for 28,000 total units. Federal programs like HOME and CDBG are helping fund new builds and renovations, and the City Council is reviewing amendments to accelerate $9.2 million in funding for rental and homeownership projects. In April, the San Antonio Housing Trust also approved $1.6 million to support local nonprofits, with a goal of adding 2,000 new homes by the end of 2025.

 “This shift is opening up real possibilities for more San Antonio residents to stay rooted in the communities they love,” explains Coake. 

New Builds vs Resales

Even though the city of San Antonio has made these moves toward building new, affordable homes, homebuyers today are weighing the benefits of newly constructed homes against existing properties. Builders are maintaining competitiveness by providing incentives such as complimentary design upgrades, assistance with closing costs, and rate reductions. These offerings help make purchasing more attainable, allowing buyers to maximize their budget while keeping monthly payments within reach.

Simultaneously, existing homes maintain significant appeal in the market. Many are situated in established communities with developed infrastructure and convenient access to highly rated schools and popular local spots. Resale homes often come with one-of-a-kind features that add charm and personality. They typically are move-in ready, enabling faster closings and providing the opportunity for price and repair negotiations. In a market where options are growing, both new and resale homes offer real advantages, it just depends on what fits your lifestyle and goals.

Moves That Inspire Strategy
This spring, success in the housing market comes down to strategy, so the right guidance makes all the difference. If you are entering the market, be it buying or selling, working with a Realty San Antonio Compass agent who understands local trends ensures you're making informed decisions every step of the way.

For the latest market updates, follow us on social media @realtysanantoniocompass. Subscribe to our market newsletter by clicking "sign up" in the top right corner of our website.