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The local housing market is showing signs of becoming more buyer friendly, according to figures this week from the San Antonio Board of Realtors.
Home sales dropped a modest one percent in April compared to the same month of 2024. Median home prices dropped 3% to $304,000 in the same comparison. And inventory or the number of homes available for purchase rose too. New listings were up six percent, bringing active listings up 19%.
Dropping sales, declining prices, and more homes on the market—all of this means there's more wiggle room for buyers for making a counteroffer on listed prices.
But the board also reports pending sales have not increased as one might expect with those "buy" signs. In fact, pending sales were down 13% in April compared to the same month last year.
SABOR suggests local buyers may be exercising caution due to the broader economy.
SABOR Chair Reagan Williamson said since buyers may have more negotiating power in the current housing market, sellers need to be more strategic in pricing and presentation to make their homes standout.
A total of 3,029 homes sold in the area in April. Homes remained on the market for an average of 70 days before being snatched up by buyers— but that's still better than the regional average, SABOR reported.
