Based on data from the San Antonio Board of REALTORS MLS during June 2025
A Balanced Market Emerges as Inventory Grows and Sales Stabilize
After years of dramatic swings, the San Antonio real estate market is showing clear signs of stabilization in June 2025. While home prices continue their upward trajectory with a solid 4% year-over-year increase, we’re seeing a more balanced dynamic between buyers and sellers as inventory levels rise significantly.
Key Headlines:
- Median home price reaches $324,460 – up 4% from June 2024
- Inventory surges 14% with 16,655 active listings
- Sales volume holds steady with only a 1% decline year-over-year
- Market timing shifts as homes stay on market 17% longer
The Big Picture: Price Growth with Cooling Demand
Home Values Continue Steady Climb
San Antonio’s housing market demonstrated remarkable resilience in June, with both median and average home prices posting solid 4% gains compared to June 2024. The median home price of $324,460 represents continued affordability relative to major Texas metros, while the average price of $392,796 reflects the growing presence of luxury properties in the market mix.
This price appreciation, while healthy, has moderated significantly from the double-digit gains we witnessed during the pandemic years. The 4% increase suggests a sustainable growth pattern that should support long-term market health without pricing out local buyers.
Inventory Relief Finally Arrives
Perhaps the most significant development in June was the substantial 14% increase in active listings, bringing the total to 16,655 properties. This represents a meaningful shift toward market balance after years of severe inventory shortages that frustrated buyers and fueled rapid price appreciation.
What This Means for Different Market Participants:
For Buyers: More choices and reduced pressure to make instant decisions. The 17% increase in days on market (now at 75 days) provides more time for due diligence and negotiation.
For Sellers: Still a favorable environment with continued price appreciation, but expectations need adjusting. Properties may sit longer, and strategic pricing becomes more important.
For Investors: Opportunities are emerging in both fix-and-flip and rental markets as competition decreases and inventory expands.
Market Segment Analysis: Tale of Two Markets
Existing Homes: The Bright Spot
The existing home market showed impressive strength in June with 2,055 sales representing a robust 9% increase year-over-year. These properties commanded an average price of $410,935, significantly higher than new construction, reflecting the premium buyers place on established neighborhoods with mature amenities.
Key factors driving existing home performance:
- Location premium: Established neighborhoods with proven track records
- Move-in ready appeal: Many buyers prefer homes with character and established landscaping
- Price competition: Often more competitively priced than comparable new builds
New Construction: Facing Headwinds
New construction sales declined 18% to 967 transactions in June, highlighting the challenges builders face in the current environment. With an average price of $354,306, new homes are positioned more affordably than existing properties, yet buyers remain cautious.
Challenges facing new construction:
- Rising construction costs squeezing builder margins
- Interest rate sensitivity affecting buyer purchasing power
- Competition from existing inventory as supply increases
Price Point Analysis: Where the Action Is
The Sweet Spot: $250K-$400K Range
Our analysis of price cohorts reveals where San Antonio’s market activity concentrates:
- $300K-$400K: Remains the most active segment (23.5% of all sales)
- $250K-$300K: Strong second place (18.2% of sales)
- $200K-$250K: Solid middle-market activity (12.6% of sales)
Luxury Market Momentum
Higher-end properties ($500K+) showed surprising strength, accounting for nearly 20% of all transactions. This suggests affluent buyers remain active despite broader market cooling, likely driven by:
- Cash buyers less affected by interest rate fluctuations
- Move-up buyers capitalizing on equity from previous home sales
- Out-of-state migration continuing into San Antonio’s luxury segments
Geographic and Property Type Trends
Condo and Townhome Market Struggles
The attached housing market faced significant challenges in June:
- 44 total sales (down 6% year-over-year)
- Median price of $188,250 showing modest 3% appreciation
- Higher days on market indicating buyer resistance
This segment’s weakness likely reflects:
- Affordability ceiling reached for first-time buyers
- HOA fee concerns in an inflationary environment
- Space preferences post-pandemic favoring detached homes
Multifamily Investment Activity
The multifamily sector showed interesting dynamics:
- 40 transactions (up 11% year-over-year)
- Median price jumped 21% to $489,245
- Strong investor interest in rental properties
Market Predictions: What’s Coming Next
Near-Term Outlook (6-12 Months)
Based on current trends and seasonal patterns, we anticipate:
Price Appreciation Moderates: Expect annual price growth to settle in the 2-4% range as inventory continues growing and buyer demand normalizes.
Inventory Continues Expanding: The 14% year-over-year increase in active listings should persist as new construction deliveries pick up and existing homeowners feel more comfortable selling.
Seasonal Patterns Return: With market balance improving, expect more traditional seasonal variations with stronger spring/summer activity and winter cooling.
Key Factors to Watch
- Interest Rate Environment: Any significant movement in mortgage rates will impact buyer affordability and market velocity.
- Employment Growth: San Antonio’s diverse economy continues attracting residents, supporting underlying housing demand.
- Construction Pipeline: New housing starts and permits will influence future inventory levels and price pressures.
- Migration Patterns: Continued in-migration from higher-cost markets should support demand, particularly in higher price ranges.
Strategic Recommendations by Market Participant
For Home Buyers
Timing Strategy: The market is becoming more buyer-friendly, but competition still exists. Quality properties in desirable areas will continue moving quickly.
Price Range Focus: The $250K-$400K range offers the best selection and value. Consider existing homes for better neighborhood amenities.
Negotiation Approach: With homes staying on market longer, there’s more room for negotiation on price, repairs, and closing costs.
For Home Sellers
Pricing Strategy: Aggressive pricing is less effective. Price competitively from the start and be prepared to adjust based on market feedback.
Property Preparation: With more inventory available, presentation matters more. Invest in staging and minor improvements to stand out.
Timing Considerations: Don’t rush to market in fall/winter unless necessary. Spring 2026 may offer better pricing opportunities if current trends continue.
For Real Estate Investors
Opportunity Areas:
- Fix-and-flip projects in the $200K-$350K range
- Single-family rentals in growing suburban markets
- Multifamily properties showing strong appreciation
Market Entry: Current conditions favor investors who can act quickly on well-priced properties while inventory remains elevated.
The Bottom Line: A Market in Transition
June 2025 data reveals a San Antonio real estate market in healthy transition from the extremes of recent years toward more sustainable, balanced conditions. While prices continue appreciating at a solid pace, the combination of increased inventory and longer marketing times creates opportunities for both buyers and sellers willing to adjust their strategies.
The key for all market participants is understanding that we’re operating in a different environment than the frenzied markets of 2020-2022. Success now requires more careful analysis, better preparation, and realistic expectations about timing and pricing.
For San Antonio specifically, the market benefits from strong underlying fundamentals: continued population growth, economic diversification, and relative affordability compared to other major Texas metros. These factors should support steady, sustainable growth even as market dynamics normalize.
Looking ahead, expect a market characterized by:
- Moderate, sustainable price appreciation (2-4% annually)
- Improved inventory levels providing more choices
- More balanced negotiations between buyers and sellers
- Return to traditional seasonal patterns
- Continued strength in luxury and investment segments
The San Antonio real estate market appears well-positioned for healthy, long-term growth as it finds its footing in this new balanced environment.
This analysis is based on data from the San Antonio Board of REALTORS MLS Summary Report for June 2025, produced by the Texas Real Estate Research Center at Texas A&M University. All statistics referenced are preliminary and subject to revision.
