78016
San Antonio, Texas

ZIP code 78016 presents a contradictory profile with a median sale price of $310,000 and an exceptional 40.9% year-over-year appreciation, yet homes are averaging 197 days on market—nearly three times the typical San Antonio metro average. Only 18% of properties are selling above list price, signaling that despite dramatic price gains over the past year, buyer urgency has cooled significantly. This extended absorption rate suggests the market has shifted from the frenzied conditions that drove the 40.9% increase to a more deliberate pace where buyers maintain negotiating leverage.

These conditions favor patient, price-sensitive buyers who can wait out extended listing periods and avoid bidding wars, as 82% of sales close at or below asking price. Sellers who purchased before the 40.9% run-up can still exit profitably, but recent buyers face meaningful liquidity risk given the 197-day marketing period. Investors seeking cash-flow properties may find motivated sellers after six months on market, though the PropIQ score of 66 suggests proceed with enhanced due diligence on comparable sales and rental demand fundamentals.

The 66 PropIQ score indicates warning signals that contradict surface-level appreciation numbers, likely flagging demand exhaustion after rapid price expansion. With inventory sitting nearly seven months and minimal above-ask competition, watch for price cuts to accelerate if days-on-market extends beyond 200. The data suggests 78016 has overshot equilibrium pricing—future quarters will test whether current valuations can sustain or require downward adjustment to restore normal absorption rates.