San Antonio, TX housing market

A quarter of all home listings in San Antonio have already cut their price, and that one number tells you almost everything about this market right now. Start with supply. There are about seven thousand eight hundred homes for sale, a lot of choices for buyers, and roughly two thousand five hundred more homes hit the market in the past month alone. All that competition is showing up in prices. The typical San Antonio home is now worth about two hundred twenty-six thousand dollars, down about three and a half percent from a year ago. And homes are taking their time to sell, sitting a median of about 61 days before going under contract. There is also a gap worth noticing. The median asking price is around two hundred eighty-two thousand dollars, well above what the typical home is actually worth, which helps explain why one in four sellers has had to cut. If you are selling this summer, price it right from day one. The sellers chasing the market down are the ones sitting for two months and cutting anyway. Get your number right before you list.