Published October 11, 2026 in Market Update

Price cuts are more common in this market now

By Scott Peck

Real estate, Tier 5 - Bench / Opportunistic

Here is the one thing every homeowner in this part of San Antonio should know right now. Redfin reported that 26.8% of San Antonio sellers cut their asking price during the four weeks ending September 20. That is nearly 1 in 4. When buyers have options, the price you start with shapes everything that follows.

That number is not just a San Antonio story. Realtor.com reported that 20.8% of listings nationally had price cuts in September, the highest share since October 2022. CNBC reported the average 30-year fixed mortgage rate climbed to 7.49% last week. Buyers are watching their monthly payment closely. That makes them more patient, and more willing to wait for a seller who blinks.

What the Real Estate Data Aggregator shows for this market

These numbers cover the three months ending August 31, 2026, for the five ZIP codes that make up this tier: 78121, 78266, 78155, 78240, and 78247. The Real Estate Data Aggregator counted 889 new listings across those ZIPs, down 13.9% from the same period a year ago. At the same time, 1,160 homes were for sale, down 8.6%. Fewer homes coming in, and fewer sitting on the market overall. That sounds tight. But 703 homes sold, also down 6.8%. Buyers are still out there. They are just being careful.

Each ZIP tells its own story

The Real Estate Data Aggregator breaks this down by ZIP code, and the differences are real. ZIP 78121 had a median sale price of $484,000, but that was down 14.1% from a year ago. Homes there sat on the market a median of 98 days, 19 days longer than last year. ZIP 78266 moved faster: a median of 50 days on market, 33 days shorter than a year ago. The median sale price there was $426,950, down 11.2%, but sales volume jumped 51.8%. ZIP 78155 in Seguin held steadier, with a median sale price of $270,000, up 1.7%. ZIP 78240 and ZIP 78247 both came in near $280,000, though both saw prices dip a little from last year.

Why the first price matters so much right now

Look at the sale-to-list numbers. Across these ZIPs, homes sold between 97.5% and 98.2% of their list price. That sounds close. But if you list too high and cut later, buyers notice. A price reduction can slow things down even more. The homes that sold quickly in 78247 did so in a median of 41 days. In 78121, the median was 98 days. Same general market, very different experience depending on how the home was priced from the start.

A few bright spots are worth noting. In ZIP 78247, 24.4% of homes went under contract within two weeks of listing. In ZIP 78240, that share was 24.3%. Well-priced homes in those areas are still moving quickly. In ZIP 78266, pending sales rose 15.6% year over year. There is real activity here. It just rewards the sellers who get the number right from day one.