Is the San Antonio Housing Market Becoming More Balanced?

Yes, the San Antonio housing market is becoming more balanced after several years of intense seller-favoring conditions. Inventory levels have increased significantly across Greater San Antonio and Bexar County, homes are staying on the market longer, and buyers have regained negotiating leverage that was largely absent during the 2020–2022 peak. While sellers can still achieve strong results with proper pricing and preparation, the frenzied multiple-offer environment has cooled considerably. This balanced market benefits both buyers who need time to make thoughtful decisions and sellers who price strategically based on current conditions.

Direct Answer: The San Antonio housing market is indeed becoming more balanced. Inventory has risen, days on market have increased, and the dynamic between buyers and sellers has shifted toward equilibrium. This transition represents a normalization rather than a decline, creating a more sustainable environment for all parties.

Key Points at a Glance

• Months of housing supply has reached 5–6 months across much of Greater San Antonio, indicating balanced conditions
• Active listings have increased approximately 14–18% year-over-year
• Average days on market has extended to 70–90 days depending on the area
• Homes are selling at roughly 91–93% of original list price
• Buyers have more negotiating power than at any point in recent years
• Sellers who price strategically still achieve successful outcomes
• The shift represents market normalization, not a crash or decline

What Does a Balanced Market Actually Mean?

A balanced real estate market exists when neither buyers nor sellers hold a distinct advantage. Supply and demand reach relative equilibrium, prices remain stable, and both parties negotiate on relatively equal footing.

Real estate professionals typically measure market balance using months of supply, which indicates how long it would take to sell all current inventory at the present pace of sales. A balanced market generally has 4 to 6 months of supply. Below 4 months typically favors sellers, while above 6 months tends to favor buyers.

The San Antonio-New Braunfels metro area currently sits in the 5 to 6 month range, placing it firmly in balanced territory. This represents a significant shift from the extreme seller's market conditions that dominated during the pandemic years, when inventory dropped to historic lows and buyers competed aggressively for limited options.

For buyers, balance means more choices, more time, and more leverage. For sellers, it means pricing accuracy and presentation matter more than ever.

Quick Takeaway: A balanced market gives both buyers and sellers reasonable expectations and fair negotiating positions.

How We Got Here: The Shift from Seller's Market to Balance

Understanding the current market requires context about where we have been. During 2020–2022, the San Antonio housing market experienced unprecedented conditions driven by record-low interest rates, pandemic-related migration, and extremely limited inventory.

Homes sold within days of listing, often above asking price with multiple competing offers. Buyers waived inspections, offered escalation clauses, and still lost out to more aggressive competitors. Sellers held nearly all the leverage, and prices appreciated at double-digit rates annually.

That environment was not sustainable, and the market has been normalizing ever since. Several factors contributed to the shift toward balance.

Rising mortgage rates reduced buyer purchasing power and cooled demand. When rates climbed from the 3% range to 6–7%, many buyers paused or adjusted their price ranges downward.

Increased inventory gave buyers more options. Active listings across Greater San Antonio have risen significantly, with some reports showing 14–18% year-over-year increases.

Extended days on market allowed buyers to be more deliberate. Homes that once sold in a weekend now average 70–90 days on market in many neighborhoods.

Price stabilization replaced rapid appreciation. While prices have not crashed, the aggressive gains of recent years have moderated considerably.

The result is a market that looks and feels very different from 2021 or 2022, but also different from a true buyer's market where sellers struggle to find interested parties.

Quick Takeaway: The current balance reflects normalization after an unusually hot period, not a market in distress.

What Balance Means for Buyers in Greater San Antonio

Buyers benefit significantly from balanced market conditions. The pressure and competition that defined recent years have eased considerably, creating a more navigable path to homeownership.

More inventory means more choices. Instead of scrambling to see the few available homes before they go under contract, buyers can compare multiple properties, revisit favorites, and make thoughtful decisions without artificial urgency.

Longer days on market create breathing room. With homes averaging 70–90 days on market, buyers have time for proper due diligence, including thorough inspections, financing coordination, and neighborhood research.

Negotiating leverage has returned. Depending on the property and seller motivation, buyers may be able to negotiate on price, request seller contributions toward closing costs, or ask for repairs following inspections. These options were largely unavailable during the peak seller's market.

Prices have stabilized. While not dropping dramatically, prices in many areas have softened slightly or held steady, allowing buyers to plan with more predictable expectations.

For first-time buyers especially, this balance creates opportunity. The home buying process in San Antonio feels more manageable when you are not competing against multiple offers on every property.

That said, balance does not mean buyers can approach the process casually. Well-priced, well-maintained homes in desirable locations still attract attention and sell relatively quickly. Preparation, pre-approval, and working with experienced representation remain essential.

Quick Takeaway: Buyers have more power and options in a balanced market, but preparation still matters.

What Balance Means for Sellers in Greater San Antonio

Sellers must adjust expectations and strategies when transitioning from a strong seller's market to balanced conditions. The adjustments are manageable, but ignoring them can lead to prolonged marketing times and disappointing results.

Pricing accuracy is critical. In a seller's market, overpriced homes might still attract offers as desperate buyers stretched their budgets. In a balanced market, overpriced listings sit while correctly priced competitors sell. Understanding current pricing strategies based on recent comparable sales is essential.

Presentation matters more. When buyers have choices, the homes that show best tend to win. Decluttering, addressing deferred maintenance, and ensuring strong first impressions through photography and staging can make meaningful differences in both marketing time and final sale price.

Negotiation is expected. Buyers in a balanced market are more likely to negotiate on price, request repairs, or ask for closing cost assistance. Sellers who approach negotiations with flexibility and realistic expectations tend to achieve smoother transactions.

Patience is required. Homes that once sold in days may now take weeks or months. This is not a sign of a problem with the property—it reflects normalized market conditions. Sellers should plan accordingly and avoid panic-driven price reductions early in the marketing period.

For homeowners who purchased during the 2020–2022 peak, it is worth noting that values in some areas have softened from those highs. Honest conversations with your agent about current market value help set realistic expectations and avoid disappointment.

Quick Takeaway: Sellers can still succeed in a balanced market by pricing correctly, presenting well, and approaching negotiations flexibly.

"I met Tami at an open house and instantly knew she was the realtor for us. As first time buyers we had a million questions, especially about VA loans and how the process worked. When we decided to build she was there every step of the way. If she was engaged with other clients Kim was just as quick to respond and let us know everything was handled. I'm hoping we don't move again for a long time, but if we do they will be our first phone call!" — Abbey T.

Signs That San Antonio's Market Has Reached Balance

Several indicators confirm that the San Antonio housing market has moved into balanced territory.

Months of supply in the 5–6 month range. This metric sits squarely within the traditional definition of a balanced market, neither strongly favoring buyers nor sellers.

Days on market averaging 70–90 days. Extended marketing times give both parties reasonable timeframes for decision-making and negotiation.

Homes selling at 91–93% of list price. This indicates room for negotiation without suggesting distress or desperation on either side.

Stable or modestly appreciating prices. The extreme swings of recent years have moderated, with most areas showing stability or modest single-digit changes year-over-year.

Reduced multiple-offer situations. While competitive bidding still occurs for exceptional properties, it is no longer the norm across all price ranges and neighborhoods.

More seller concessions. Buyers are successfully negotiating closing cost contributions, repairs, and other terms that were nearly impossible during peak seller's market conditions.

These indicators collectively paint a picture of a market where supply and demand have reached reasonable equilibrium, creating fair conditions for both parties.

Quick Takeaway: Multiple data points confirm San Antonio has shifted from seller's market to balanced conditions.

Neighborhood Variations Within Greater San Antonio

While the overall Greater San Antonio market shows balance, conditions vary by neighborhood, price range, and property type. Understanding these variations helps buyers and sellers set appropriate expectations for their specific situations.

Established desirable neighborhoods may still see competition and faster sales. Areas with top-rated schools, prime locations, or limited turnover often maintain seller-friendly conditions even as the broader market balances.

Newer suburban developments in areas like Cibolo, Schertz, and the far northwest side may have more inventory, giving buyers additional leverage. New construction options in these areas also compete with resale homes.

Entry-level price points under $300,000 often remain competitive due to affordability constraints and first-time buyer demand. Higher price points may see more balance or even favor buyers due to smaller buyer pools.

Specific property types perform differently. Single-family homes in family-friendly neighborhoods may see different dynamics than condos, townhomes, or luxury properties.

The San Antonio neighborhoods and communities resource provides detailed information about different areas across Greater San Antonio. Working with an agent who understands neighborhood-level trends helps you navigate these variations effectively.

Quick Takeaway: Market balance varies by location—local expertise matters for accurate expectations.

Questions Buyers and Sellers Often Ask

Q: Is San Antonio officially a buyer's market now?

A: The market is balanced to slightly buyer-leaning depending on the area. Some neighborhoods still favor sellers, while others give buyers clear advantages.

Q: Are prices dropping in San Antonio?

A: Prices have stabilized overall. Some areas have seen modest softening, while others remain steady. The extreme appreciation of recent years has ended, but dramatic price drops have not occurred.

Q: How long should sellers expect their home to be on the market?

A: Average days on market ranges from 70–90 days across most of Greater San Antonio, though well-priced homes in desirable areas may sell faster.

Q: Can buyers negotiate below asking price?

A: Yes, many homes are selling at 91–93% of original list price, indicating room for negotiation. Leverage depends on the specific property, how long it has been listed, and seller motivation.

Q: Should sellers wait for the market to improve?

A: Waiting for a return to 2021–2022 conditions may not be realistic. Those conditions were historically unusual. Today's balanced market still allows successful sales with proper strategy.

Common Misconceptions About Market Balance

Misconception: Balance means prices are crashing. Market balance indicates equilibrium between supply and demand, not distress. Prices in San Antonio have stabilized, not collapsed. Sellers can still achieve fair market value with proper pricing.

Misconception: Buyers now have unlimited negotiating power. While buyers have more leverage than in recent years, they cannot expect dramatic concessions on every property. Well-priced, well-maintained homes still command solid offers.

Misconception: Sellers should wait for the market to swing back. The extreme seller's market of 2020–2022 resulted from unusual circumstances unlikely to repeat soon. Sellers who need or want to move should focus on strategy rather than timing.

Misconception: All neighborhoods behave the same. Greater San Antonio encompasses diverse communities with different dynamics. Countywide statistics provide context, but local conditions vary significantly.

Important Considerations for Today's Market

For buyers: Take advantage of improved conditions without becoming complacent. Get pre-approved, understand your budget including taxes and insurance, and work with experienced representation. The deciding to buy a home in San Antonio guide helps you prepare for the process.

For sellers: Accept that conditions have changed and adjust accordingly. Price based on current comparable sales, not what neighbors sold for two years ago. Invest in presentation and be prepared to negotiate reasonably.

For both parties: Recognize that balanced markets can shift. Conditions continue evolving based on interest rates, inventory, employment, and population growth. Working with professionals who understand current dynamics helps you make informed decisions regardless of short-term fluctuations.

"Tami Price and her team are excellent!!! I was a first time home buyer with a baby on the way and she guided me every step of the way to find the perfect house in time and at an awesome deal at that! And it seemed that everything that could go wrong with the process on the other end to include an inaccurate appraisal and inspection issues she handled them flawlessly with minimal stress on my part. Then only two years later my family had to do a career move. She was the only agent I considered to sell my house. Not only does Tami have tremendous knowledge of the process and the market she is so personable I felt very confident in following all of her recommendations. We ended up walking away with profit after only two years in our dream house. She is awesome! I fully recommend Tami and her team." — Jessica H.

FAQ

Q: What caused the San Antonio market to become more balanced?

A: Rising mortgage rates reduced buyer purchasing power, increased inventory gave buyers more options, and the extreme demand of the pandemic years has moderated. These factors combined to create equilibrium between supply and demand.

Q: Is a balanced market good or bad?

A: Balanced markets benefit both parties by creating fair conditions for negotiation, reducing extreme competition, and allowing more thoughtful decision-making. Neither side holds overwhelming advantage.

Q: How long will the market stay balanced?

A: Market conditions depend on factors including interest rates, inventory levels, employment, and population growth. While predictions are uncertain, current fundamentals suggest relative stability through the near term.

Q: Should first-time buyers feel more confident in a balanced market?

A: Yes. Reduced competition, more inventory, and reasonable negotiating leverage make the process less overwhelming for first-time buyers than during peak seller's market conditions.

Q: Can sellers still make money in a balanced market?

A: Absolutely. Sellers who price correctly and present their homes well can achieve successful sales at fair market value. The difference is that unrealistic pricing no longer works as it might have during extreme seller's market conditions.

The Bottom Line

The San Antonio housing market has indeed become more balanced, marking a significant shift from the intense seller-favoring conditions of recent years. Inventory has increased, days on market have extended, and the negotiating dynamic between buyers and sellers has reached relative equilibrium.

This balance benefits buyers who gain options, time, and leverage. It requires sellers to adapt through accurate pricing, strong presentation, and reasonable expectations. For everyone, it represents a more sustainable and navigable market than the extremes of the pandemic era.

Whether you are buying or selling in Greater San Antonio, understanding current conditions positions you for success. Balance does not eliminate opportunity—it simply requires strategy, preparation, and local expertise to capitalize on it.

 

About Tami Price

With nearly two decades of experience serving Greater San Antonio and over 600 five-star reviews and recommendations across multiple platforms, Tami Price helps clients navigate every type of market condition. Her deep understanding of Bexar County neighborhoods, pricing dynamics, and negotiation strategies provides the insight needed to succeed whether buying or selling.

From Boerne to Schertz, Cibolo to Helotes, and throughout the Greater San Antonio metro, Tami delivers the market knowledge and personalized guidance that balanced market conditions require.

Contact Tami

Tami Price, REALTOR®, Broker Associate
📞 210 620 6681
✉️ tami@tamiprice.com
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Disclaimer: This content is for educational purposes only and reflects general market conditions in Greater San Antonio at the time of writing. Real estate conditions vary by neighborhood, property type, and price range. Market data cited reflects information available at publication and may have changed. Always consult with a licensed real estate professional for guidance specific to your situation.