San Antonio Housing Market Faces Mixed Trends as Inventory Expands in May

The San Antonio housing market continued to display signs of rebalancing in May, with modest declines in sales and pricing even as inventory surged, according to the latest Multiple Listing Service (MLS) Report from the San Antonio Board of REALTORS® (SABOR). A total of 3,229 homes were sold in May, reflecting a 3% year-over-year (YoY) decrease.

Despite fewer sales, both median and average home prices showed slight gains. The median price rose to $315,000 (up 2% YoY), while the average price increased to $378,746 (a 2% YoY increase), suggesting persistent demand in higher price ranges.

However, buyers had more options to choose from, with a 20% increase in active listings compared to the previous year, reaching 16,482. New listings also ticked up by 1%, totaling 5,635, while pending sales saw a 16% drop, indicating a more cautious buyer pool. Inventory rose to 5.77 months, inching closer to a balanced market.

“While we’re seeing slight price growth in the overall market, the increased inventory means buyers have the upper hand when it comes to negotiating,” said Reagan Williamson, SABOR’s 2025 Chair of the Board. “It’s a market that rewards preparation and pricing strategy—both for buyers and sellers.”

Key Market Highlights for May 2025

• Close to Original List Price: 93.6% of homes sold close to their original list price.

• Days on Market (DOM): Homes averaged 72 days on the market, a 3% YoY increase.

• Price per Square Foot: Averaged $176, representing a 1% decline from May 2024.

• Average Residential Rental Price: Reached $1,874.

• Active Residential Rental Listings: 4,140 available rental properties.

Bexar County Market Trends

Market activity in May in Bexar County mirrored broader regional patterns, with a total of 2,123 homes sold, a 4.6% YoY decrease. The median home price declined to $295,000 (down 1.7%), while the average price dipped slightly to $351,142 (0.4% decrease YoY). The price per square foot fell 1.8% to $167.

• Days on Market: 66

• Months of Inventory: 5.1

• New Listings: 3,708

• Active Listings: 9,689

• Pending Sales: 1,757

• Close to Original List Price: 94.0%

Texas Real Estate Trends

Across Texas, home sales inched up 1.2% YoY, with 31,809 homes sold in May. The average price rose to $439,142 (1.2% increase YoY), while the median price stood at $345,000—a slight 1.2% YoY decrease. The price per square foot statewide was $191, reflecting a 2.1% drop YoY.