Jennifer's Market Minute: September 2026

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What San Antonio Homeowners Should Know About Short Sales in 2026

If you’ve been following the San Antonio housing market this year, you’ve probably heard that buyers have more negotiating power than they’ve had in quite some time. There’s more inventory to choose from, homes are spending longer on the market, and sellers are increasingly willing to consider offers that include concessions.

So why aren’t more buyers jumping at the opportunity?

That’s a question I’ve been thinking about lately, especially after spending September negotiating new construction purchases, showing homes to buyers, and having some difficult conversations with sellers.

The opportunities are certainly there. But so is the hesitation.

And September’s housing market statistics help explain why.

THE NUMBERS

Closed Sales: 2,793 homes (+5% year over year)
Active Listings: 17,155 homes (+4%)
New Listings: 4,172 homes (+3%)
Pending Sales: 2,091 homes (-16%)
Median Sales Price: $302,999 (-2%)
Average Days on Market: 88 days (+11%)
Housing Inventory: approximately 6.0 months
Average Sale-to-Original-List Price: 92.4%

Compared with a year ago, closed sales increased 5%, while pending sales declined 16%. New listings increased 3%, and homes spent 11% longer on the market.

That contrast is worth paying attention to. September’s completed sales were up, but fewer homes went under contract compared with the same month last year. Meanwhile, buyers had more homes to choose from, and sellers were waiting longer to secure a sale.

With approximately six months of inventory, San Antonio is hovering around what is traditionally considered a balanced market. But as I’ve seen firsthand, that doesn’t mean buyers and sellers are experiencing it the same way.

FOR BUYERS: THE BEST DEAL ISN’T ALWAYS THE LOWEST PRICE

One of the biggest opportunities I’m seeing right now is the ability to negotiate, particularly with new construction builders.

Throughout September, I worked with buyers comparing homes, neighborhoods, builders, and financing packages. Some builders were offering attractive interest rates, while others had more flexibility on purchase prices or closing cost contributions.

What I’ve found is that the biggest win isn’t necessarily negotiating the lowest purchase price. It’s finding a home worth buying and negotiating the strongest overall financial package.

Seller contributions can be especially valuable in today’s interest-rate environment.

For example, contributions toward allowable closing costs or an interest-rate buydown may help reduce the amount of cash a buyer needs at closing or make their monthly mortgage payment more manageable.

That doesn’t mean purchase price isn’t important. A lower price can reduce the loan amount and may create long-term savings.

But when you find a builder or seller who’s willing to negotiate both the price and meaningful contributions, that’s where things can get particularly interesting.

I’ve recently been able to negotiate combinations of price reductions, substantial seller contributions, and additional items such as appliances and window coverings for buyers purchasing new construction homes.

Those opportunities aren’t available on every property, and they don’t make every home a good deal.

The key is evaluating the entire package:

• Is the home priced appropriately for its location, condition, and features?
• Does it meet the buyer’s needs beyond the immediate purchase?
• What financing incentives are available, and are they permanent or temporary?
• How do seller contributions affect the estimated cash needed to close and monthly payment?
• Does the purchase make financial sense at today’s rates, without depending on a future refinance?

That last question is particularly important.

I’ve talked with buyers who are hopeful that interest rates will eventually decline. They might. But I don’t believe anyone should make a major financial commitment based on the assumption that refinancing will become an option at a specific rate or time.

The right opportunity is one that works for your finances today, with the potential for improvement later.

WHY BUYERS ARE STILL HESITATING

Even with more inventory and opportunities to negotiate, buyers are being selective.

I’ve noticed this with people touring my own listings. Sometimes a buyer will point to a relatively small detail as the reason they don’t want to pursue a property.

And sometimes that detail genuinely is a dealbreaker.

But I also wonder whether those objections occasionally reflect something bigger: uncertainty about monthly payments, concerns about making the wrong decision, or hesitation about committing to a purchase in an unpredictable financial environment.

I can’t speak for every buyer’s motivation, but it’s a pattern worth considering.

When mortgage rates are higher than someone hoped, the financial commitment can feel more significant. Buyers may become less willing to compromise on a home’s condition, layout, location, or features.

After all, if they’re stretching their budget to purchase a home, they want to feel confident they’re getting the right one.

That doesn’t mean buyers are being unreasonable.

It means sellers need to understand that today’s buyers often have alternatives, and they’re taking the time to compare them.

FOR SELLERS: THE FALL MARKET REQUIRES A DIFFERENT MINDSET

On the seller side, September brought a different set of conversations.

Some of my sellers are tired.

They’ve spent months preparing their homes, keeping them ready for showings, accommodating appointments, and waiting for an offer that makes sense.

And as we’ve moved into fall, I’ve heard concerns that perhaps they missed their opportunity to sell during the spring or summer.

I understand why that feels discouraging.

But I don’t believe the calendar alone determines whether a home will sell.

September still recorded 2,793 closed sales across the San Antonio market. People are continuing to buy homes, even if they’re taking longer to make decisions.

What has changed is how much competition sellers face and how carefully buyers are evaluating their options.

With 17,155 active listings and an average of 88 days on market, sellers need to pay close attention to how their property compares with other available homes.

That means looking beyond the original asking price or what a neighbor sold for several months ago.

Pricing, presentation, condition, and the overall value proposition all matter.

For some sellers, that may mean making a price adjustment. For others, it could mean addressing a condition issue, improving how the property is presented, or considering an offer with closing cost contributions.

Seller concessions aren’t necessarily a sign of failure. They’re one of several tools that can help make a transaction work.

Of course, those contributions affect a seller’s bottom line, so the entire offer needs to be evaluated carefully.

A higher offer with substantial concessions isn’t automatically better than a slightly lower offer with fewer requests.

The goal is to understand what the seller will actually receive at closing, along with the terms, contingencies, and likelihood of the transaction closing successfully.

And while I wouldn’t tell every seller to lower their price simply because fall has arrived, I also wouldn’t recommend holding firm to a strategy that the market has consistently shown isn’t working.

Sometimes the most productive decision is recognizing that the market is giving us information and responding accordingly.

WHAT I’M SEEING LOCALLY: MORE THAN JUST PRICING PRESSURE

Something else has been coming up more frequently in my conversations lately: homeowners who are concerned about their mortgage payments or exploring whether a short sale might be necessary.

I’ve also recently shown short-sale properties to buyers and had conversations with other real estate agents navigating the short-sale process. Please note: these are observations from my own business, not evidence that short sales or mortgage delinquencies are increasing across San Antonio. The September SABOR statistics don’t tell us that.

But they are a reminder that the challenges of today’s housing market aren’t limited to buyers struggling with interest rates or sellers waiting longer for offers.

For some homeowners, financial circumstances are making the decision to sell more urgent.

And for homeowners who owe more than their property may sell for, understanding the available options early can make an important difference.

A short sale isn’t the right solution for everyone, and it requires lender approval. Homeowners experiencing financial hardship should communicate with their mortgage servicer and explore available options before assuming that selling is their only path forward.

It’s one more reason I believe real estate conversations need to start with a person’s circumstances, not just the estimated value of their home.

MY TAKE: OPPORTUNITY AND HESITATION CAN EXIST AT THE SAME TIME

If I had to summarize September’s San Antonio housing market in one sentence, it would be this:

Buyers have opportunities they didn’t have a few years ago, but affordability and uncertainty are keeping many of them cautious.

That helps explain why we’re seeing more negotiating flexibility while homes continue to sit on the market.

For buyers who are financially prepared, there may be excellent opportunities to purchase a home that meets their needs while negotiating favorable terms.

For sellers, success may require more patience, realistic pricing, and a willingness to consider the complete financial picture of an offer.

And for homeowners who aren’t planning to move, the broader market is a useful reminder that real estate values and selling conditions change over time. What worked two years ago may not be the best strategy today.

I don’t see September as a market where nothing is happening.

I see a market where people are still moving, but they’re being much more deliberate about how they do it.

And whether you’re buying or selling, having a thoughtful strategy matters more than trying to perfectly time the market.

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WONDERING WHAT SEPTEMBER’S MARKET MEANS FOR YOU?

San Antonio’s market statistics are a useful starting point, but the conditions in your neighborhood, price range, and property type may look very different from the citywide averages.

Whether you’re considering buying, preparing to sell, relocating to San Antonio, or simply trying to understand your options, I’m happy to help you look at the numbers and make a plan that fits your circumstances.

Let’s start a conversation about your real estate goals.

Market data source: San Antonio Board of REALTORS® (SABOR), September 2026 Market Statistics. Market observations and interpretations reflect Jennifer Anderson’s experience working with buyers and sellers in the San Antonio area. Jennifer Anderson is a San Antonio Realtor providing local market insights with a focus on far west side neighborhoods and the needs of military and relocating families. She helps clients interpret market data in practical terms so they can make confident buying and selling decisions.