78123
San Antonio, Texas

The 78123 ZIP code shows a median sale price of $620,000 with an extraordinary 31.9% year-over-year increase, creating a disconnect between price velocity and absorption rate. Homes are averaging 102.5 days on market, substantially above San Antonio's typical range, while zero properties sold above list price in the recent period. This combination of aggressive appreciation with extended marketing time and no bidding competition indicates a market absorbing recent gains rather than sustaining momentum.

This environment favors patient buyers with strong negotiating positions, as the 102-day average DOM and absence of over-list sales provide leverage for price discovery conversations. Sellers who purchased before the recent appreciation cycle can still extract significant equity, but must price realistically given current absorption patterns. Investors seeking cash flow should recalculate returns carefully, as the 31.9% price jump likely outpaced rent growth and compressed yield metrics considerably.

The PropIQ score of 51 signals caution, reflecting the tension between strong trailing price performance and weakening transactional indicators. The extended days-on-market figure suggests demand at the $620,000 price point may be approaching saturation. Monitor whether DOM continues expanding beyond 110 days and if list-to-sale price ratios compress further, both indicating potential price corrections or an extended period of flat appreciation as the market digests recent gains.