Welcome back, San Antonio! Let’s take a closer look at what’s hot—and what’s not—in our local housing market.
San Antonio Single-Family Real Estate Market – September 2025
In the San Antonio single-family home market, prices slipped again in September, continuing the gradual decline seen through late summer. According to Redfin, the median sold price is now $260,000, down about 2 % from August’s $265,000. Zillow and the San Antonio Board of REALTORS® (SABOR) show smaller dips, while Realtor.com held flat. The key takeaway: prices are easing—not collapsing.
Homes are taking longer to sell across the board. Redfin reports average days on market rising from 61 to 69 (a roughly 13 % increase). Zillow, Realtor.com and SABOR reflect similar delays. This confirms what we hear in the field: buyers have more time to shop around and negotiate, and sellers who are still pricing like it’s the spring market are seeing listings linger.
On the listing-performance side, a few encouraging signals are emerging as sellers adjust. Redfin’s sale-to-list ratio ticked up slightly to 96 %, and SABOR’s “percent of original list” improved to 92.1 %. Zillow notes that 60.4 % of homes sold below asking, up about 2 % from last month. The clear message: homes priced right from day one are still moving, while the rest are giving up ground via concessions or credits.
Inventory remains elevated but hasn’t spiraled. SABOR’s months-of-inventory dropped from 6.1 to 5.9—a modest 3 % decline. While supply remains elevated, we’re not seeing a flood of new listings. The balance continues to favor buyers, but the market isn’t collapsing—just cooling in a steady, orderly way.
Overall takeaway: The San Antonio housing market is easing into its late-year slowdown. Prices are off slightly, homes are taking longer to sell, and buyers hold most of the bargaining power. Sellers who stay flexible and price realistically will find success; those banking on last spring’s conditions may end up waiting through the holidays.
My View on What’s Next
San Antonio’s housing market remains soft and likely will stay that way through winter. Prices already appear to be about 5-6 % off the summer peak, and I expect another 3-6 % drop before we hit the bottom. Days on market continue climbing, more homes are closing below asking, and buyers know they have leverage. Sellers who want to move property this winter will need to lead with realistic pricing and strong incentives. I don’t see panic selling—just a slow, steady correction as the market works through excess inventory.
That said, there’s a bullish case worth noting. If mortgage rates ease back below ~6.5 % and inventory remains stable, San Antonio could stabilize faster than many metro areas. The city’s steady job growth, significant military presence, and comparatively affordable home prices make it more resilient. In such a scenario, prices could flatten by early spring, then begin climbing again by mid-2026—recovering this winter’s losses and setting up for a stronger summer market.
HomeHelpSA Update
Here at HomeHelpSA, things are steady—even as the market presses pause. We finally got the Airbnb back up after the last tenants left it in rough shape. Extra cleanup and repairs were needed, but bookings are now picking back up. Most long-term rentals are filled, and the light rehab we began earlier this fall is finished.
I’m still scanning the deal pipeline, but I’m not in a rush. With softening prices, I’d rather wait for a clear win than stretch for a “maybe.” Deanna and I are also exploring mobile-homes and land deals—there’s real potential there if the numbers line up.
On the financing front: we’re seeking a partner for a loan secured by our fully-furnished rental in Universal City (rented to a family displaced by a fire, generating ~$2,800/month). We’re looking for a $100,000 first-lien at 8 %, amortized 30 yrs with a 5-yr balloon to retire the existing mortgage. If you’re interested or know someone who might be, reach out anytime.
Deanna is intentionally pace-setting until the market finds its footing. We still have one Wimberley property listed, but we’re not pressing it. For now: steady cash flow, finishing projects strong, and staying ready for that next “no-brainer” deal this winter.
San Antonio Multi-Family Market – September 2025
The San Antonio apartment market is still working through the oversupply from last year’s building boom. Occupancy is around 88-89 %, and rents are roughly 1-2 % below where they were this time last year. Class A properties are offering concessions; more affordable Class B and C units are holding steadier thanks to solid demand.
Looking ahead: roughly 8,000 new units are expected in 2025 (down sharply from more than 12,000 in 2024). The pipeline is drying up fast—only ~3,000 units remain under construction—so new supply may fall to 2,500-3,500 units in 2026 and even fewer in 2027.
My take: distressed sales are already beginning to show—and more are likely coming. Many owners who financed in 2021-22 with floating rates are now feeling the squeeze from higher interest costs and tighter refinancing. That pressure is forcing some properties to sell below replacement cost. For investors, this window presents a real opportunity: cap rates are up, pricing is more realistic, and lack of new inventory for the next two years could set up solid long-term returns for those who buy now and ride the recovery.
Conclusions
- The San Antonio single-family market softened further in September: prices edged lower, homes took longer to sell, and buyers held the upper hand. I expect another 3-6 % drop before stabilization and a rebound by mid-2026.
- On the multi-family side: the wave of new construction is finally slowing, and early signs of stress in the ownership base are surfacing. This could be a rare buying window for smart investors.
- Whether you’re a homeowner trying to sell or an investor looking for value, now is the time to act strategically—not hastily. Lead with realistic pricing, strong incentives (if selling), and a sharp eye for opportunity (if buying).
If you’d like to dive deeper into the market, chat about upcoming deals, or explore how HomeHelpSA might partner with you, let’s talk. You can call/text me at 210-972-9580 or email homehelpsa@gmail.com. Don’t forget to join our monthly newsletter list for fresh updates.
Here’s to staying ahead of the curve in the Alamo City.
Thanks,
Bill
HomeHelpSA – We Buy Houses in San Antonio