The San Antonio, TX metro area housing market is experiencing a notable shift as of January 2025. The Median Sales Price has decreased to $295,000, marking a 5.9% decline year-over-year. This downward trend in sales prices contrasts with the Median List Price, which has risen by 9.8% to $325,000. This divergence suggests a potential gap between seller expectations and buyer willingness, possibly influenced by broader economic factors.

In terms of Price Per Square Foot, the Median Sales Price has decreased by 1.6% to $161.27, while the Median List Price per square foot has seen a modest increase of 2.3%, reaching $176.67. This indicates a slight softening in the market, with sellers adjusting their pricing strategies to align with current demand.

The volume of Homes Sold has decreased by 3.2% year-over-year, with 1,946 Homes Sold in January 2025. Pending Sales have also seen a significant drop of 13.9%, totaling 2,878. This decline in sales activity is mirrored by a 10.8% reduction in New Listings, which now stand at 3,002. Inventory levels have slightly decreased by 1.5% to 10,961, while the Months of Supply have increased by 10% to 5.6 months, indicating a shift towards a more balanced market.

The Median Days on Market have increased by 13% to 79 days, suggesting that homes are taking longer to sell. This extended time on the market may be contributing to the increase in Price Drops, which have risen by 6.1% to 36.6%. Despite these challenges, the average sale to list ratio has improved by 0.9% to 97.5%, indicating that homes are selling closer to their list prices.

The percentage of Homes Sold above list price has seen a slight increase of 0.2%, reaching 13.6%. However, the percentage of homes going Off Market Within Two Weeks has decreased by 4.5% to 10.9%, reflecting a more cautious buyer sentiment.

Overall, the San Antonio housing market is navigating a period of adjustment, with sellers recalibrating their expectations and buyers exercising increased caution. The interplay between declining sales prices and rising list prices highlights the evolving dynamics in this market.