78101
San Antonio, Texas

The 78101 market trades at a $339,990 median with homes averaging 71.5 days before closing, indicating moderate absorption rates in a post-surge environment. The +19.1% year-over-year appreciation substantially outpaces both metro San Antonio and national benchmarks, suggesting persistent demand pressure despite elevated borrowing costs. Only 20% of transactions close above asking, down from pandemic-era peaks, signaling that bidding war intensity has cooled but pricing power remains with sellers who correctly position their assets.

Sellers who purchased before 2024 capture significant equity gains from the 19.1% annual increase, while move-up buyers face affordability constraints at nearly $340,000 entry points. The 71.5-day marketing period rewards patient sellers willing to wait for qualified offers rather than chase quick exits with concessions. Investors seeking cash flow will find compressed yields at current valuations, but those banking on continued appreciation in San Antonio's growth corridor may justify the $339,990 basis given the sustained price momentum.

The PropIQ score of 70 reflects equilibrium uncertainty—neither overheated nor distressed—as the market digests rapid gains without clear directional conviction. The 20% above-ask metric and extended days-on-market create a tug-of-war between residual buyer urgency and mounting affordability resistance. Monitor absorption rates and list-to-sale price ratios through Q2 2026; if days-on-market extends beyond 80 while above-ask transactions drop below 15%, expect price growth deceleration toward single-digit annual gains.