San Antonio Housing Market Report September 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 entered September with strong inventory and stable pricing even as the pace of sales and buyer urgency shifted. The region ended the month with 16,579 active listings and 5.9 months of inventory, while the median price held at $308,995. Closed sales rose 5% year over year, signaling that buyers are still active even as higher inventory gives them more time and leverage to make decisions.

Let's look at August numbers, which show mixed signals across the market:

• Active Listings Hold Steady — San Antonio ended September with 16,579 active listings, 13% higher than a year ago and 2% lower than August.
• Median Price Holds Firm — The median home price was $308,000, unchanged year-over-year and down 2% month-over-month.
• Market Pace Slows Slightly — Homes averaged 78 days on market, up 6 days from a year ago and 4 days from August.
• Pending Sales Decline — Pending sales reached 2,076, down 24% from last year and 15% below the previous month.
• Closed Sales Up Annually — 2,823 sales closed in September, up 5% from last year but a 4% decrease from August.
• Inventory Remains Balanced — Housing supply measured 5.9 months, 0.7 months higher year-over-year and 0.2 months lower month-over-month.
• Market Snapshot – Over 16,000 homes are on the market, selling for an average of 92.1% of their original list price. Realty San Antonio Compass listings, achieving 97.6% of their original list price and sold 37 days faster than the MLS average.

Mortgage Application Increase 

The 30-year fixed rate now averages 6.22%, according to Mortgage News Daily as of Monday, October 20th, holding near its lowest point of the year. Rates have eased from the mid-6% range over the past month, keeping borrowing costs more stable for buyers. The Mortgage Bankers Association reports a 29% increase in mortgage applications in mid-September, with purchase activity up 20% from the same period last year, as more buyers re-enter the market ahead of the holidays. HousingWire’s Logan Mohtashami notes that purchase applications have been trending higher for several consecutive weeks, supported by improving affordability and rate stability. In San Antonio, that momentum has supported consistent contract activity. SABOR data show 2,076 pending sales in September, down 24% year over year and 15% below August, reflecting typical seasonal cooling but ongoing buyer engagement as rates stabilize and inventory remains elevated.

As more buyers take advantage of these favorable conditions, preparing early can help strengthen their position in a competitive market. Learn how to qualify for a home loan to understand the steps, documents, and financial strategies that make the process smoother from pre-approval to closing.

Shutdown Impacts Housing Activity

The ongoing federal government shutdown is creating complications across multiple parts of the housing sector. New flood insurance policies through the National Flood Insurance Program are on hold, while USDA rural loans and IRS income verifications are delayed. Some FHA, VA, and HUD operations are running with limited staff, leading to longer timelines for certain transactions. 

The shutdown has also paused federal housing grants and community development programs, delaying funding for local projects and assistance initiatives. New home construction that depends on federal reviews or permits could face short-term setbacks. Despite these disruptions, most conventional loans and private transactions continue to move forward with minimal impact. 

Economic Conditions Support Stability

Recent data indicates that inflation is holding steady, with prices rising 2.9% year-over-year in August and core inflation at 3.1%, according to the Bureau of Labor Statistics. Nationally, the economy added 22,000 jobs, while unemployment held at 4.3%, signaling slower but steady growth.

Locally, the San Antonio–New Braunfels metro area reported an unemployment rate of 3.8% in August, according to BLS & FRED data. September figures have not yet been released, but San Antonio’s economy appears steady heading into the final quarter of the year.

Stable employment conditions combined with consistent inflation trends could give the Federal Reserve confidence to continue gradual rate cuts through the end of 2025. If borrowing costs remain steady or decline slightly, mortgage affordability may improve and help sustain housing demand across Central Texas.

Looking Ahead to Q4

Economic forecasts point to a stable finish for the housing market as 2025 winds down. According to Fannie Mae’s September 2025 Economic Developments Forecast, mortgage rates are expected to stay in the low-6% range through the end of the year before gradually dipping below 6% in 2026. Fannie Mae also projects total U.S. home sales to increase 9.2% in 2026 compared with 2025, with gains expected to build as affordability improves and rates ease further.

With inventory steady and buyer confidence holding, San Antonio heads into Q4 on solid ground. SABOR reports 16,579 active listings and 5.9 months of supply as of September, giving the market balance between buyers and sellers. The median price held at $308,995, unchanged from a year ago, while closed sales rose 5% year over year. These conditions suggest San Antonio will close 2025 with a stable, well-supplied market and consistent buyer demand. Statewide analysis from the Texas Real Estate Research Center points to consistent construction activity and ongoing housing demand across Texas. For San Antonio, these conditions suggest a steady close to the year as supply, pricing, and buyer activity remain well aligned heading into 2026. 

For sellers looking ahead to 2026, thoughtful planning and strategic marketing can make all the difference. Explore a three-phased marketing strategy designed to maximize visibility and help your home stand out in San Antonio’s competitive market.

Inspiring Moves Ahead

As San Antonio’s market finds its rhythm again, opportunities are opening for both buyers and sellers to make meaningful moves before year-end. Realty San Antonio Compass is here to help you move forward with confidence and find a place you’ll love to call home.

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