It prices about the identical to purchase a home in San Antonio this yr because it did round this time in 2024, and rather less to hire an condo.
However fewer “offered” indicators have been displaying up in entrance yards in March in comparison with final yr, in keeping with knowledge from the San Antonio Board of Realtors (SABOR).
Additionally, whereas renters could be paying much less now than lately, resulting from a glut of residences in the marketplace, charges may rise if the present commerce wars proceed to gas uncertainty or begin to drive up development prices, mentioned a latest Redfin report.
“That would additional hamper condo provide, inflicting rents to leap,” mentioned Redfin economics analysis lead Chen Zhao. “Tariffs may additionally drive up rents by rising demand.”
In March, the common hire for an condo in San Antonio was $1,289, in keeping with the condo rental web site, RentCafe. The best common hire was in Midtown, at $2,201 a month, and the bottom in Stone Oak, at $1,491.
Lowered gross sales exercise has been the pattern recently, in keeping with SABOR. In San Antonio final month, just below 3,000 properties have been offered, an 8% lower from March 2024.
The month of January was busy for Melissa Aguillon, an actual property agent with the Jason Glast Group at Phyllis Browning Co. Then, “it really slowed down a bit bit, and by March, it acquired a bit bit slower,” she mentioned. “However we’re beginning to choose up once more.”
Historically, April 15 to July 15 is the busiest time for the staff, she added.
Regardless of fewer gross sales in March, each the median and common residence costs rose barely, in keeping with SABOR.
The median worth in San Antonio elevated by 2% to $315,499 whereas the common worth additionally grew by 2%, to $378,792.
Stock additionally continued to develop, providing patrons extra properties to select from.
The variety of new listings rose by 6% to virtually 5,000 in March, and lively listings reached 14,716 — an 18% hike.
In Aguillon’s expertise, homes usually are not promoting as quick as they did earlier than. “However they’re nonetheless most likely inside a two- to three-month turnaround, which is actually good,” she mentioned.
Pending gross sales dipped by 7% to virtually 3,000, an information level that SABOR attributes to patrons’ hesitancy and affordability.
“We’re persevering with to see a market setting the place stock is rising and costs stay regular,” acknowledged Reagan Williamson, SABOR board chairman and native actual property dealer. “Consumers have extra properties to select from, and sellers should stay strategic with pricing to face out in a extra aggressive panorama.”
However because the spring home-buying season will get underway, the Texas Actual Property Analysis Middle at Texas A&M College has reported that residential mortgage lending exercise kicked into the next gear in March.
“We’re listening to from lenders that mortgage credit score availability and mortgage approval charges are favorable,” acknowledged Yanling Mayer, analysis economist on the Actual Property Analysis Middle. “The rising stock can be shifting market circumstances in favor of homebuyers. In truth, stock has exceeded pre-pandemic ranges.”
How a lot does a home value in San Antonio?
Danny Khalil, affiliate director of market analytics at the actual property data agency CoStar, mentioned the single-family residence market in San Antonio may be very flat proper now, holding the road with a median worth of $300,000.
“Not too excessive, not too low, however I suppose that’s our popularity,” he mentioned.
The median residence worth elevated by $2,000 in San Antonio and 0.7% yr over yr in South Central Texas, sustaining the market’s affordability relative to the nation as a complete.
In San Antonio, the median worth additionally rose 0.7% between March 2024 and March 2024, “highlighting the extent to which South Central Texas has skilled flat appreciation for greater than two years now,” acknowledged the CoStar report.
The median gross sales worth of properties offered in the US in March 2025 rose 5% over the identical month final yr, in keeping with CoStar, with 33 of the nation’s largest markets experiencing sooner appreciation than San Antonio.
How is condo hire trending?
Whereas the acquisition worth of a home elevated solely barely since final yr, the going fee to hire an condo continued to drop barely in March, additionally following tendencies.
Nearly half of all San Antonio households are renters, in keeping with census knowledge.
Renters gained a slight edge in worth since 2010 as a constructing spree of multifamily and build-to-rent housing elevated competitors and pushed charges down. In some circumstances, property managers have been sweetening the deal to get leases signed, generally providing as much as two months of free hire.
However groundbreakings slowed in 2024, and the present administration has threatened commerce tariffs because the begin of the present yr.
The Washington, D.C.-based advocacy group Affiliation of Normal Contractors has warned that tariffs would make development dearer and will set off retaliatory measures that hurt U.S. companies and staff.
In March, the median asking condo hire fee within the U.S. fell 0.6% to $1,610 in comparison with March 2024, however elevated 0.4% since February, in keeping with actual property brokerage Redfin.
March was the thirteenth consecutive month by which asking rents barely decreased or elevated.
Redfin economists and different consultants have predicted that rents will tick up once more resulting from slowing condo development, with the impact of tariffs now coming into play.
“America will get loads of constructing supplies from different international locations, so tariffs will make constructing residences dearer,” mentioned Redfin economics analysis lead Chen Zhao.
That may hamper provide, inflicting rents to go up, as would a rise within the variety of folks opting to hire quite than purchase resulting from financial turmoil.
However homebuyers and sellers could be tiring of the market uncertainty. Aguillon mentioned her fellow brokers are sensing some pent-up demand after a yr of rising rates of interest.
“We thought perhaps folks have been ready to see what’s going to occur towards the top of final yr,” she mentioned. “However I feel they’re getting used to the mortgage fee staying the identical in order that they’re identical to, properly, I suppose it’s time to make a transfer.”
