The San Antonio, TX metro area housing market in February 2025 presents a complex landscape characterized by a mix of declining sales prices and increased inventory. The Median Sales Price has decreased by 1.2% year-over-year, settling at $290,000. This decline in sales price is mirrored by a 3.0% drop in the median Price Per Square Foot, now at $158.66. Conversely, the Median List Price has seen a slight increase of 0.6%, reaching $326,788, with the list Price Per Square Foot also rising by 1.1% to $176.99.

Sales activity has notably slowed, with the number of Homes Sold dropping by 14.5% year-over-year to 2,166 units. Pending Sales have also decreased by 13.0%, totaling 3,059. New Listings have seen a smaller decline of 6.1%, amounting to 3,349. Despite these declines, inventory levels have risen by 2.1%, reaching 11,598 homes, which has contributed to a significant 90.0% increase in the Months of Supply, now at 5.40 months.

The market dynamics are further highlighted by the Median Days on Market, which has increased by 5.0% to 78 days. This suggests that homes are taking longer to sell compared to the previous year. The average sale to list ratio has improved slightly by 0.3%, standing at 97.3%, indicating that homes are selling closer to their list prices. However, the percentage of Homes Sold above list price has decreased by 1.5% to 10.6%.

Price adjustments are becoming more common, with 37.1% of listings experiencing Price Drops, a 7.8% increase from the previous year. Additionally, the percentage of homes going off the market within two weeks has decreased by 2.9%, now at 16.2%, suggesting a slower pace in buyer decision-making.

Overall, the San Antonio housing market in February 2025 is experiencing a cooling trend, with declining sales prices and slower sales activity, despite a slight increase in inventory and list prices. These factors indicate a shift towards a more balanced market, offering potential opportunities for buyers to negotiate better deals.