San Antonio Housing Market Report May 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.

San Antonio’s housing market continued to adjust in May, with the median home price rising slightly to $315K, up 2% from last year and 3% from April. Active listings climbed to 16,482, a 20% increase compared to last year, giving buyers more options across the region. Homes spent an average of 72 days on the market, five days faster than the previous month. While pending sales declined, closed sales increased by 6% from April, signaling steady movement as buyers navigate the growing inventory. As Compass CEO Robert Reffkin recently told CNBC, “It's a better time to be a buyer than it was last year. You can't buy what's not for sale, and there's a lot more for sale," Reffkin said.

Let’s take a look at May’s numbers:

• More Homes to Choose From — There are 16,482 active listings on the market, a 20% increase compared to last year and an 8% increase from last month.
• Consistent Price Movement — The median price rose to $315K, up 2% year-over-year and up 3% from April. 
• Time on Market Improves — Homes are spending an average of 72 days on the market, 5 days faster than last month and 3 days longer than this time last year.
• Slight Dip in Contracts — Pending sales fell to 2,653, down 16% year-over-year and down 5% month-over-month.
• Closed Sales Climb — 3,229 homes closed in May, a decrease of 3% from last year but up 6% from April.
• Available Inventory Grows — May’s inventory rose to 5.77 months, increasing by .49 months from April and .87 months from May 2024.
• Market Snapshot – Over 16,000 homes are on the market, selling for an average of 93.6% of their original list price. Realty San Antonio Compass listings excel, achieving 99% of their original list price and selling 19 days faster.

Clarity Around Home Prices

San Antonio’s median home price reached $315,000, up 2% from last year and 3% from the month before. While that is a slight increase, prices are showing more consistency than past years. That steadiness is giving both buyers and sellers a better sense of what homes are worth. With fewer surprises, it is easier to find common ground on pricing, helping homes attract attention and making the path to closing a little more straightforward.

“We’re seeing motivated buyers return to the market with a clearer sense of what they want. Inventory is up, pricing has leveled out, and that’s creating opportunities on both sides of the transaction. It’s a much more balanced environment than we’ve seen in recent years,” said John Coake, Senior Vice President of Realty San Antonio Compass.

The Hesitation Window is Starting to Close

Over the past few months, some buyers have taken a wait-and-see approach, but San Antonio’s latest numbers suggest that window may be narrowing. While pending sales dipped slightly in May, closed sales rose 6% compared to April and homes are spending less time on the market. This aligns with a broader national trend. The Mortgage Bankers Association reported a 9% increase in purchase applications in early June as mortgage rates moved slightly lower. With activity building and conditions shifting, buyers who act quickly may find more flexibility than those who wait.

Positive Signs from Buyers

The current sentiment toward housing is beginning to rebound from previous years. In May, Fannie Mae’s Home Purchase Sentiment Index rose to 73.5, marking its highest level in nearly two years and showing steady improvement in how Americans view today’s homebuying conditions, price trends, and job stability. While affordability remains a challenge for some, this uptick in confidence suggests that serious buyers are becoming more willing to engage. As that confidence builds, it could lead to more consistent activity across the market heading into the second half of the year.

San Antonio’s Homebuyer Resources

The City of San Antonio offers financial assistance to first-time buyers through its Homeownership Incentive Program (HIP). Eligible buyers earning up to 120% of the Area Median Income may receive between $1,000 and $30,000 in forgivable assistance to help cover down payment and closing costs. The amount and forgiveness terms vary depending on income level, with HIP 80 supporting lower-income households and HIP 120 offering help for moderate-income buyers. To qualify, buyers must complete a HUD-approved 8-hour homebuyer education course, contribute at least $500 in earnest money, and purchase a home within San Antonio city limits. These resources are designed to ease upfront costs and expand access to homeownership across the city. For more details and additional local programs, explore Realty San Antonio Compass’s blog on affordable housing resources.

"Even in a shifting market, the fundamentals remain the same. People still want to put down roots. We are focused on helping buyers and sellers cut through the noise, understand their options, and feel confident about their next move," explains Jennifer Korba, Senior Agent Success Manager at Realty San Antonio Compass.

Equity Gains Give Sellers an Edge

While San Antonio’s price growth has been steady rather than steep, many local homeowners have still gained meaningful equity over the years. National data shows that mortgaged properties now hold a combined $17.6 trillion in equity, with the average homeowner sitting on about $212,000 in tappable value. That equity can go a long way, helping sellers cover moving costs, make stronger offers on their next home, or ease the transition with added financial confidence. In today’s market, that kind of flexibility can make all the difference. If you want to learn more about how to use your home’s equity, view our resource here.

Inspire Informed Decisions

Market conditions are shifting in ways that open the door for confident decisions. With clearer pricing, improving buyer sentiment, and strong equity for many sellers, now is a good time to explore your options. Reach out to a Realty San Antonio Compass agent to understand what’s possible in today’s market.

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