San Antonio's for-sale housing inventory climbed to 14,199 homes in September, a 15.6% jump from a year earlier that made the metro the fastest-growing housing market in the country by that measure. At the same time, the typical home sold for $300,000, down 2.5% from September 2025, as sellers faced longer waits and buyers gained more leverage at the negotiating table.
San Antonio Outpaces Every Major Metro
The numbers, compiled from homes.com and CoStar data, appeared in a Homes.com report on October 23, before the San Antonio Business Journal article published October 29, show San Antonio recorded the fastest inventory growth among the nation's largest markets. According to homes.com, that 15.6% increase in homes for sale dwarfed the 1.9% rise seen nationwide, where total listings reached 1,335,389 in September. The site's separate national report put San Antonio well ahead of Seattle, which posted the second-fastest inventory growth at 15.2%, with Minneapolis and Nashville trailing further behind near 12%.
Homes listed in San Antonio also sat on the market noticeably longer. Per homes.com, the median number of days a home spent for sale rose 24.2% year over year in September — the fastest such increase in the nation — while total supply reached 8.2 months, a figure that signals a market tilting toward buyers. Austin and Dallas-Fort Worth moved in the opposite direction, both seeing their inventories shrink in September even as San Antonio's expanded, the Business Journal reported.
Sales and Price Figures Diverge by Source
Exactly how much San Antonio's sales and prices slipped depends on which dataset you check. Homes.com reported 1,629 home sales in September, down 1.6% year over year, alongside the $300,000 median price. A separate account from Texas Public Radio put the sales decline at 2% and placed the median price just below $302,000, also down 2% from the prior year. The two outlets likewise differ on supply: homes.com's 8.2-month figure contrasts with TPR's estimate that it would take six months to sell off San Antonio's current inventory.
Texas Public Radio's report does align with homes.com on the broader direction of the market, noting that the average home now lingers on the local market for nearly three months. Still, the station found that roughly nine out of 10 San Antonio sellers were getting their original asking price in September, a detail suggesting the slowdown hasn't yet translated into widespread price-cutting on individual listings.
Affordability Squeeze Extends Statewide
The softening isn't unique to San Antonio. Texas home sales fell by more than 4% year over year statewide in September, while the median statewide price slipped just under 1% to $330,000, according to the same TPR report. The station pointed to a broader affordability problem weighing on San Antonio buyers specifically, citing home prices, property taxes and insurance costs as compounding pressures beyond mortgage rates alone.
Those mortgage rates haven't helped. Research from the Texas Real Estate Research Center at Texas A&M found rates climbed back above 7% by October, adding fresh headwinds just as the market tries to absorb rising inventory. The center's October report also noted that San Antonio's home prices, while still below year-ago levels, saw their pace of decline moderate through August, and that local inventory had been comparatively stable before September's sharper jump.
A Different Story in Austin and Dallas
San Antonio's price slide was also steeper than in some neighboring metros. Homes.com found prices fell just 0.5% in Austin and 2.3% in Dallas-Fort Worth over the same period, both milder drops than San Antonio's 2.5%. North Texas told an even more divergent story: average home prices there actually rose 4% year over year to $509,534 in September, even as single-family home sales fell 7% to 6,759, according to data from MetroTex. North Texas also reported 31,325 active listings, down 2% from a year earlier, with just 4.3 months of supply — a tighter market than San Antonio's by a wide margin.
National data suggest the shift favors house hunters willing to negotiate. The National Association of Realtors notes that higher inventory and lengthening days on market give buyers improved negotiating power, and that sellers in such conditions could need price discounts or other incentives to close a deal. For San Antonio shoppers, the timing may already have been favorable: a report from the San Antonio Express-News, via mySA.com, cited Realtor.com data identifying the week of September 27 through October 3 as the best week of the year nationally to buy a home, thanks to inventory levels, reduced listing prices and lower buyer competition.
