78023
San Antonio, Texas

The 78023 market shows stabilization with a median sale price of $445,000 and moderate appreciation of 3.5% year-over-year, indicating measured growth rather than speculation-driven momentum. At 88 days on market, homes are moving at a normalized pace that reflects neither urgency nor stagnation. Only 6% of properties sold above list price, signaling the absence of competitive bidding pressure that characterized tighter market conditions. This pricing discipline suggests buyers have regained negotiating leverage.

This environment favors patient buyers willing to conduct thorough due diligence across the 88-day average marketing window. The 6% above-ask rate means most transactions close at or below listing price, creating room for offer negotiations. Sellers with equity positions benefit from the 3.5% annual appreciation while maintaining realistic pricing expectations. Investors seeking cash flow over rapid appreciation may find the measured pace suitable for calculated acquisitions without overpaying in competitive situations.

The PropIQ score of 65 signals caution, suggesting vulnerability to demand softening or inventory accumulation. With days on market extended and minimal bidding competition, watch for increases in price reductions as sellers adjust to buyer selectivity. The modest 3.5% appreciation may compress further if macroeconomic headwinds impact local employment or mortgage accessibility. Sustained inventory growth without corresponding demand would pressure the current pricing equilibrium downward.