San Antonio Housing Market Report November 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 Austin housing market gained momentum in November as pending sales rose compared to last year. This annual increase reflects the positive trends agents are seeing across the region, even as the market experienced a typical seasonal dip in monthly closed sales. While the holidays often limit short-term mobility, the year-over-year growth suggests a market that is strengthening as the year winds down.

Let's look at November’s numbers:

• Listings Stay Elevated — San Antonio finished November with 16,114 active listings, 14% higher year-over-year and lower by 4% month-over-month.
• Prices Hold Steady — The median home price held at $315K, a 5% increase year-over-year and a 3% month-over-month increase.
• Days on Market Increases — Homes spent an average of 86 days on market, which is 13 days longer than last year and 3 days more than October.
• Buyer Activity Slows — Pending sales totaled 2,112, falling 17% year-over-year and 10% month-over-month.
• Sales Pull Back — There were 2,206 closed sales in November, 19% lower than a year ago and 16% less than in October.
• Inventory Remains High — Inventory increased to 6 months, which is 1 month higher than a year ago and 0.14 months lower than last month.
• Market Snapshot – Over 16,000 homes are on the market, selling for an average of 92.4% of their original list price. By contrast, Realty San Antonio Compass listings achieved 98.1% of their original list price and sold 28 days faster than the MLS average.

The Market Adjusts For The Season

For November, the San Antonio housing market eased as the year began to wind down. Month-over-month, activity slowed, with pending sales down 17% and closed sales down 19%, reflecting typical late-year patterns as fewer households choose to move during the holidays.

Compared to this time last year, the backdrop looks different. Active listings remain higher year-over-year, while home prices have continued to hold above last year’s levels. Together, those conditions point to a market that is slower by design rather than driven by a sudden shift in demand.

“While activity slowed for the season, higher inventory and minimal price movement are giving buyers and sellers clearer signals than we’ve seen in a while.” – John Coake, Senior Vice President at Realty San Antonio Compass

Inventory And Supply

San Antonio finished November with 16,114 active listings, a 14% increase year-over-year, despite a 4% month-over-month decline in inventory as the market progressed deeper into the holiday season. Inventory remained high at 6 months, which is 1.03 months higher year-over-year, keeping supply elevated heading into winter.

This reflects a market where more homes are available overall, even as late-year activity cools. Sellers appear less pressured to move quickly, which can keep inventory levels higher as the market heads into winter.

Prices And Pace

Home prices held steady in November, with the median home price at $315K, up 5% year-over-year and 3% month-over-month. Homes spent an average of 86 days on market, which is 13 days longer year-over-year and 3 days longer month-over-month, reflecting longer timelines and more selective buyer behavior.

Across the MLS, homes sold for an average of 92.4% of their original list price, while Realty San Antonio Compass listings averaged 98.1% and sold 28 days faster, underscoring the role of pricing strategy and presentation.

Mortgage Rates And The Outlook

Mortgage rates have remained relatively stable as 2025 comes to a close, averaging 6.19% as of December 29th. Recent reporting shows rates are being driven more by movements in the bond market than by immediate Federal Reserve action, which has helped prevent sharp swings. According to HousingWire, mortgage pricing has remained steady even as economic data continues to shift.

Looking ahead, most industry outlooks suggest mortgage rates are likely to stay relatively stable into early 2026, with gradual improvement possible later in the year rather than a rapid drop. HousingWire analysts note that cooling labor market conditions and easing inflation pressures could support modest rate relief over time, but expectations remain measured. As HousingWire’s lead analyst, Logan Mohtasham, recently shared, mortgage pricing is expected to be flat to slightly lower in the near term.

“Rates have been more predictable lately, which has taken some of the uncertainty out of financing.” – Jennifer Korba, Senior Agent Success Manager at Realty San Antonio Compass

Buyer And Seller Activity

Buyer activity softened in November. Pending sales totaled 2,112, down 17% year-over-year and 10% month-over-month, while closed sales reached 2,206, a 19% year-over-year decline and 16% drop from October, reflecting a seasonal slowdown in transactions.

For buyers, higher inventory and longer timelines continue to offer more flexibility and time to evaluate options. For sellers, outcomes remain closely tied to realistic pricing and preparation as competition stays elevated. Broader market forecasts suggest 2026 could bring modest growth in sales and easing affordability pressures if inventory continues to expand and mortgage rates stay manageable, giving both buyers and sellers something to watch as the year begins.

Planning Your Next Move

For those thinking about what comes next, today’s market offers more information and fewer surprises than in recent years. Current conditions give buyers and sellers more time to review options, understand the numbers, and plan without feeling rushed. The team at Realty San Antonio Compass is here to talk through timing, tradeoffs, and next steps when it makes sense for you.

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