Prices in the San Antonio housing market have started to rise as a result of increased demand and steadily declining interest rates, creating a highly competitive market and resulting in bidding wars amongst buyers, according to a KSAT report.

As a result, many buyers are willing to pay more than the asking price of a property in order to beat out other bidders, with one San Antonio buyer spending $17,900 more for the home they wanted after viewing 20 homes and receiving 10 bids.

“San Antonio area real estate statistics for the month of July: even though the YoY (year-over-year) sales of properties saw a decrease of 9%, home prices went up 18% YoY, with the median home price increasing 15% YoY," Marco Salinas, a San Antonio-based real estate agent, stated on Twitter, " It’s still a good time to put your home in the market ”

In July 2021, the average selling price of a house in San Antonio increased 18% year over year, reaching $353,811, according to CultureMap San Antonio.

Additionally, the median selling price increased to $298,400, a 15% increase from the previous year.

San Antonio is currently the "eighth hottest city in the United States for homebuyers", as measured by the number of individuals moving from other, more expensive markets, according to CoreLogic.