A Market Built for Strategy: What May 2026 Data Reveals About San Antonio & the Hill Country

San Antonio & Hill Country Real Estate Market Report: What the May 2026 Numbers Mean for Buyers and Sellers Across the Region

San Antonio has never been a market of extremes — it didn't spike as violently as Austin during the pandemic boom, and it hasn't corrected as sharply either. What it has done is settle into something genuinely useful: a market defined by stability, affordability, and the kind of negotiating dynamics that reward people who show up prepared.

The May 2026 data tells that story clearly — but it also reveals meaningful differences across the region, from the Hill Country corridors of Boerne and Fredericksburg to the growing I-35 corridor through New Braunfels. Here's what the numbers say.

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Here is what the numbers say.

San Antonio Overall: A Buyer's Market with a Floor

With 17,193 active listings and 3,535 closed sales, the San Antonio market carries more inventory than at any point in recent memory — and buyers are feeling it. The 93.4% sales-price-to-list-price ratio and 81 days on market tell the story: this is a market where overpriced homes sit and well-priced homes move. Total days from list to close average 115, which means buyers have time to be thoughtful, and sellers need to have their strategy locked in before they list.

San Antonio home prices were down approximately 2.6% compared to the same period last year, with a median around $260,000–$310,000 depending on the data source and geographic scope. That price softness, combined with elevated inventory, is actually one of the most compelling features of this market right now for buyers. San Antonio remains the most affordable major Texas metro by a meaningful margin, and that affordability gap versus Austin and Dallas continues to attract relocating buyers from both coasts and from within Texas.

For sellers, the key insight from SABOR's 2026 outlook is that demand hasn't disappeared — it has been delayed. Buyers who paused in 2024 and 2025 due to rate sensitivity are beginning to re-enter. Pricing to the market rather than to a peak-era memory is what separates listings that close in 30 days from listings that accumulate price reductions over four months.

"San Antonio didn't overheat during the pandemic boom, and it didn't break during the rate correction. That positions our market well for steady, disciplined growth in the years ahead." — Ed Zapata, Chair, San Antonio Board of REALTORS®

San Antonio Luxury ($1M+): Patience Required on Both Sides

The luxury market in San Antonio is the most revealing segment in this report. With 819 active listings against just 90 closed sales, and a 92.1% sales-to-list ratio, this is a segment where buyers hold real leverage — but where the right property still commands a premium. The 84 days on market and 129 total days signal that luxury buyers here are deliberate, not absent. They are watching, evaluating, and moving when something genuinely exceptional hits the market at the right price.

For sellers in the $1M+ category, the message is direct: presentation and pricing precision matter more at this price point than anywhere else. A luxury home that enters the market correctly positioned can still find a serious buyer. One that enters overpriced will sit — and a stale luxury listing in San Antonio is a difficult repositioning.

Boerne: The Quiet Outperformer

Boerne is the standout submarket in this report. A 96.6% sales-to-list ratio — the strongest in the entire region — alongside 126 closed sales against 549 active listings tells you that demand for the Hill Country lifestyle within commuting distance of San Antonio remains real and durable. Yes, days on market run 90 days and total days clock in at 131, but that extended timeline reflects deliberate buyers making significant purchases — not a lack of interest.

Boerne consistently attracts buyers who have done their homework. They know the school districts, they understand the land, and they are not making impulse purchases. For sellers, that buyer profile is actually an asset: when they make an offer, they typically close.

New Braunfels: Volume Leader with Room to Negotiate

New Braunfels is the highest-volume submarket outside of San Antonio proper, with 330 closed sales against 2,228 active listings. The 93.3% sale-to-list ratio and 87 days on market put it in line with broader San Antonio market dynamics — buyers have options, and sellers need to be competitive on price. The 119 total days is worth noting for anyone planning a move: build that timeline into your planning whether you're buying or selling.

The I-35 corridor through New Braunfels continues to attract buyers priced out of Austin who want proximity to both metros without paying Austin prices. That structural demand driver isn't going away — it's the same force that has driven New Braunfels' growth for the better part of a decade.

Fredericksburg: A Lifestyle Market Finding Its Floor

Fredericksburg is the most nuanced submarket in this report, and the number that demands attention is the 90.4% sales-to-list ratio — the lowest in the region by a notable margin. With 417 active listings, 51 closed sales, and 114 total days, this is a market where buyers have real negotiating room and sellers need to have clear-eyed expectations.

That said, Fredericksburg is not a market in distress — it's a lifestyle and second-home market recalibrating after a pandemic-era surge that pushed prices well beyond local fundamentals. Wine country, short-term rental appeal, and the broader Hill Country draw still bring motivated buyers. They are just arriving with more patience and more leverage than they had in 2021 and 2022. For buyers, this is one of the more compelling entry points in the region right now. For sellers, honest pricing is the only path to a closed transaction.

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What This Means for You

If You Are Buying in San Antonio

You have more options, more time, and more negotiating leverage than at any point in the last four years. Get pre-approved, target listings with meaningful days on market, and work with an agent who can pull comps that reflect where the market actually is — not where it was. The buyers winning right now are the ones who combine financial readiness with strategic patience.

If You Are Selling in San Antonio

The 81-day average DOM and 115 total days are not averages you want to beat passively — they are benchmarks to strategize around. Homes priced accurately and presented well are still moving. The gap between a well-positioned listing and an aspirationally priced one has widened considerably in this market. Your agent's pricing strategy and marketing execution matter more right now than they have in years.

If You're Eyeing the Hill Country

Each submarket has its own dynamics. Boerne buyers should expect competition on well-priced properties. Fredericksburg buyers have real room to negotiate. New Braunfels sits in the middle — healthy volume, buyer-friendly conditions, but not a fire-sale environment. Know which submarket you're actually in before you set your strategy.

Data sourced from the San Antonio Board of REALTORS® (SABOR), Redfin, Homes.com, and Kuper Sotheby's International Realty internal market data. All figures reflect May 2026 unless noted.All information is deemed reliable but not guaranteed. Data is subject to change and may not reflect subsequent corrections or updates. Statistics are intended for informational purposes only and should not be construed as legal, financial, or investment advice. Kuper Sotheby's International Realty is a licensed real estate brokerage. Information is provided as a courtesy to clients and the public.