78209 Real Estate Market Sees Cooler Temps

78209 Real Estate Market Sees Cooler Temps and Sales in November

By Bruce X. Forey, REALTOR®

After an active October, the 78209 housing market slowed down in November 2025—returning to a pace more in line with seasonal expectations and historical trends.

Home Prices and Sales Activity

The median sale price in November dropped to $476,250, a noticeable dip from $637,500 in October. Average sale prices followed the same pattern, falling to $591,979 from $759,756. Despite these month-to-month decreases, 78209 homes still command significantly more than the broader San Antonio market.

Closed sales remained relatively steady with 22 transactions in November, just two fewer than in October. However, homes took significantly longer to sell, with median days on market jumping to 110 days, up from 44 days the previous month—marking a 150% increase and a signal of shifting buyer behavior.

Inventory and Price Adjustments

Housing supply in 78209 increased slightly to 6.4 months, compared to 6 months in October, continuing to offer more options for buyers and longer decision-making windows.

The median price per square foot also adjusted, landing at $251 in November versus $303 in October and $319 in September. While values are still strong, this reflects a softening trend. The average price per square foot, however, was more stable at $326, hinting that higher-end properties continue to sell at premium levels.

Another notable metric: the median percent of last list price dropped to 95.5%, down from 98.3% in October. This stat shows what buyers are paying relative to the most recent asking price and suggests that sellers are making more concessions or adjusting list prices more aggressively.

Market Outlook

November’s data reflects a market that is recalibrating after a surge of activity in October. While pricing has cooled, homes in 78209 remain some of the most sought-after in San Antonio. With inventory still healthy and demand steady, savvy buyers may find new opportunities during the quieter winter months.

San Antonio Leads the Nation in Canceled Home Sales as Buyers Pull Back

If you’re feeling like more home deals are falling through lately, you’re not wrong—especially here in San Antonio. According to new data from Redfin, over 1 in 5 (21%) pending home sales in our city fell apart in October, the highest rate in the nation. San Antonio edged out other high-cancellation cities like Fort Lauderdale, Fort Worth, Las Vegas, and Jacksonville.

Nationally, cancellations hit 15% in October, up from 14% the year before and well above pre-pandemic norms. Buyers are clearly feeling the pinch of high home prices and economic uncertainty.

Off the Market

This trend coincides with another housing shift: delistings. Homes pulled off the market spiked 45.5% year-to-date and jumped 38% from last October, according to Realtor.com. In fact, 2025 is shaping up to be the highest delisting year since Realtor.com began tracking this stat in 2022. Normally, sellers pull listings during the slow winter months—but this year, delistings have stayed elevated for five straight months.

Part of the story is that more buyers are heading toward what Realtor.com calls “refuge markets”—more affordable metros that didn’t experience the sharp post-pandemic price surges. While major markets like Miami, Denver, and Houston see sellers pulling back, cities like Grand Rapids, St. Louis, and Milwaukee are seeing modest price growth and better buyer engagement.

Economists expect gradual improvement in 2026, especially if mortgage rates fall and more inventory hits the market. Until then, San Antonio stands as a prime example of today’s turbulent real estate climate, where price sensitivity and uncertainty are rewriting the rules—for both buyers and sellers.