San Antonio Housing Market 2026: Inventory Up 16%, Prices Down 2.5%, and What Relocators Should Know

If you're planning a move to San Antonio, the market just handed you something buyers haven't had here in years: time to choose.

Homes.com's September 2026 report found that San Antonio posted the fastest inventory growth among the 40 largest U.S. markets. Single-family homes for sale grew 16% to 13,469, and total inventory rose 15.6% to 14,199 homes (Source: Homes.com, September 2026).

Prices went the other way. The median sale price fell 2.5% year over year to $300,000, while the national median rose 0.6% (Source: Homes.com, September 2026).

The Numbers Behind the Shift

More listings only help you if they sit. In San Antonio, they do.

Homes.com puts days on market at 77, months of supply at 8.2 and the sale-to-list ratio at 92.4% (Source: Homes.com, September 2026). Treat these September figures as preliminary, since monthly market data like this may be revised.

The San Antonio Board of REALTORS (SABOR) sees the same trend in its own MLS data. September sales came in 2% lower than a year earlier, and the median price dropped by the same percentage to $302,000 (Source: San Antonio Board of REALTORS via Texas Public Radio, September 2026). Average time on market is pushing three months.

Homes.com and SABOR draw on different datasets, so Homes.com's 8.2 months of supply (Source: Homes.com, September 2026) won't necessarily match SABOR's own inventory measure.

Federal data is gentler. The FHFA index for the metro was down 0.5% year over year (Source: FHFA House Price Index, Q2 2026). It tracks repeat sales of the same homes, so it moves more slowly than monthly medians.

Three sources, one direction: sellers no longer set the terms.

How to Use Your Negotiating Room

With listings piling up and homes sitting longer, sellers are being pushed to price realistically from the start. That works in your favour.

• Price. Homes are closing at about 92% of list price on average (Source: Homes.com, September 2026), though many sellers still hold near asking. Check recent comparable sales for your specific price tier, not the list price.
• Concessions. Ask for closing-cost help or a rate buydown. With the 30-year fixed rate at 7.18% (Source: Freddie Mac Primary Mortgage Market Survey, week of November 5, 2026), a seller-funded buydown may do more for your monthly payment than a modest price cut.
• Time. Depending on your price tier and target area, you may be able to tour twice, compare neighbourhoods and walk away from a seller who won't budge. Because the metro-level data doesn't show conditions in every neighbourhood, ask your agent which areas on your shortlist have the longest listing times in recent MLS data before deciding where to push hardest on price.

City vs Metro: Redfin's View of San Antonio

San Antonio's direction holds even at the city level. Redfin, which measures the city rather than the metro, shows a median sale price of $257K, down 2.9% (Source: Redfin, three months ending September 2026). Different geography, same direction.

If Phoenix is also on your shortlist, our Phoenix vs San Antonio housing comparison puts the two side by side, and our October Phoenix pending sales report covers that market's turn.

Where San Antonio Sits in Texas

Affordability was San Antonio's selling point before the supply jump. At $300,000, its median sits 22.3% below the national median and ranks 36th among the 40 largest markets (Source: Homes.com, September 2026), while SABOR's separate statewide figure puts the Texas median at $330,000 (Source: San Antonio Board of REALTORS via Texas Public Radio, September 2026).

Renting first while you learn the neighbourhoods is realistic, too. HUD's two-bedroom Fair Market Rent is $1,441 per month (Source: HUD Fair Market Rents, FY2027).

The job market isn't flashing red either. Unemployment was 4.3% (Source: BLS Local Area Unemployment Statistics, September 2026, seasonally adjusted), and you can track the latest federal figures on our San Antonio housing market data page.

For the full household budget, read our San Antonio cost of living breakdown. First-time buyers should also see how San Antonio ranks for first-time homebuyers.

Will Prices Keep Falling?

No one can say whether San Antonio prices will keep falling. What the data shows is the recent direction: the median sale price is down 2.5% year over year (Source: Homes.com, September 2026), and SABOR's median is down 2% (Source: San Antonio Board of REALTORS via Texas Public Radio, September 2026). Those figures describe the metro, not your target ZIP code, and a move in mortgage rates could change the math quickly.

New construction is a wild card. Permits authorised 952 housing units in September, up 48.1% from a year earlier (Source: Census Bureau Building Permits Survey, September 2026). Monthly permits are volatile, but a sustained jump would mean more new homes competing with resale listings.

You don't need to time the bottom to benefit from this market.

Your San Antonio Checklist

Before you make an offer:

• Pull SABOR's latest monthly report for days on market and months of inventory.
• Cross-check your target ZIP code on Redfin's Data Center, since city, metro and MLS figures rarely match.
• Ask your agent to pull recent comps, including sale-to-list ratios, in the two or three neighbourhoods you're considering most seriously.
• Get a lender quote with and without a seller-funded buydown.

With inventory this high and prices down year over year, you can open below asking and still be taken seriously. Size that offer against recent comps for your specific price tier rather than the metro-wide 92% average (Source: Homes.com, September 2026). Run your budget through a mortgage calculator this week, then book a buyer's agent who can pull SABOR comps before your first tour.