78124
San Antonio, Texas

ZIP code 78124 is experiencing significant downward pricing pressure, with the median sale price settling at $254,499 after a sharp 19.9% year-over-year decline. Homes are averaging 95 days on market, well above the balanced-market threshold of 60 days, indicating weak buyer demand. Only 4% of properties are selling above list price, confirming sellers hold minimal negotiating leverage in current transactions. This pricing correction suggests the post-pandemic appreciation cycle has fully reversed in this submarket.

Cost-conscious first-time buyers gain the most from these conditions, facing reduced competition and expanded negotiating room on the 95-day average marketing period. Investors should approach cautiously given the 19.9% depreciation trend, though cash buyers seeking rental income may find entry points if employment fundamentals remain stable. Sellers face difficult decisions: those without urgency should consider waiting for market stabilization, while motivated sellers must price aggressively below recent comparables to avoid extending beyond the current 95-day absorption rate.

The PropIQ score of 45/100 signals continued caution, suggesting further price softening remains possible before stabilization occurs. With only 4% of sales exceeding list price, upward momentum indicators are absent from transaction data. Monitor monthly sales velocity and days-on-market trends closely; sustained DOM above 90 days typically precedes additional price corrections in San Antonio's outer submarkets.