San Antonio Home Sales Drop 39% in January — Here’s What It Really Means
January usually tells us more truth about the housing market than almost any other month.
And the January 2026 data for San Antonio sent a clear signal:
Home sales dropped nearly 39% compared to last year.
That’s a big number. But it doesn’t automatically mean what headlines might suggest.
Let’s break it down.
📉 What Happened in January?
Through the end of January 2026:
- Closed sales: 988 homes
- Median sold price: $275,000 (down 6.8% month-over-month)
- Months of inventory: 4.97
- Sold-to-list price ratio: 96.7%
- Median days on market: 75 (up nearly 23%)
What does that tell us?
The market slowed.
Prices softened.
Inventory continues to build.
But this looks more like a market adjustment than a collapse.
⚖️ Is San Antonio a Buyer’s Market Now?
At just under 5 months of inventory, San Antonio is sitting in what’s typically considered a balanced market.
Some neighborhoods are leaning buyer-friendly.
Others are still competitive.
But one thing is clear:
Negotiation is back.
Homes are selling for about 96.7% of list price, which tells us sellers are making concessions to get deals done.
That’s different from 2021 or 2022 — but it’s not panic territory either.
💰 Why Sales Dropped So Much
A 39% year-over-year drop sounds dramatic. But context matters.
When affordability gets stretched — as it did in 2022 and 2023 — buyers naturally slow down. Add higher interest rates and cautious sentiment, and you get fewer transactions.
The key takeaway:
Buyers didn’t disappear.
They became selective.
📊 The Bigger Picture: Affordability Is Improving
Nationally, the percentage of income required to purchase a home has started trending down from the peak levels of 2022 and 2023.
Several major markets — including San Antonio — are projected to move back toward the 30% affordability threshold by the end of 2026.
That doesn’t mean housing is suddenly cheap.
It means the math is starting to rebalance.
And when affordability improves, activity usually follows.
Not overnight — but gradually.
🏡 What This Means for Sellers
If you’re considering selling in 2026, this market will reward strategy — not guesswork.
Pricing correctly from day one matters more than it did two years ago.
Overpricing and “testing the market” is leading to longer days on market and eventual price reductions.
Well-priced homes are still moving.
But condition, presentation, and negotiation matter again.
🛍️ What This Means for Buyers
Buyers now have:
• More inventory
• More negotiation power
• Less urgency
But that doesn’t mean every home is a deal.
The best homes are still competitive.
The overpriced ones sit.
This is a selective market — and that creates opportunity for prepared buyers.
📌 The Bottom Line
January showed us a market that is adjusting — not collapsing.
Sales slowed.
Prices pulled back.
Inventory increased.
But the fundamentals remain intact.
If affordability continues improving, 2026 could gradually gain momentum.
The question isn’t whether the market is “good” or “bad.”
The question is whether you have a strategy.
📍 Thinking About Making a Move?
If you’re even considering buying or selling this year, the smartest first step isn’t jumping into the market.
It’s understanding your numbers.
You can request a personalized home value and strategy at:
And if you’d like monthly updates breaking down what’s actually happening in the San Antonio housing market, I’ll keep tracking the data so you don’t have to.