78148
San Antonio, Texas

The 78148 market has shifted decisively toward buyers, with the median sale price settling at $275,000 after declining 9.8% year-over-year. Homes are averaging 70 days on market, indicating softer demand than the metro's typical absorption rate. Only 18% of transactions close above asking price, a sharp contrast to the competitive conditions seen in 2024-2025. This price compression reflects broader adjustment patterns in San Antonio's outer submarkets as rate-sensitive buyers recalibrate expectations.

Price-conscious first-time buyers gain meaningful negotiating leverage in this environment, particularly those who can tolerate the 70-day average marketing period. The 82% of homes selling at or below list price suggests room for offer strategies below asking. Sellers with equity buffers and flexible timelines can still transact at $275,000, but those requiring quick exits face headwinds. Investors seeking cash-flowing rentals may find entry points, though the 9.8% decline warrants scrutiny of local employment and population trends before deployment.

The PropIQ score of 60 signals caution rather than crisis, suggesting stabilization potential if days-on-market metrics don't extend beyond 80-90 days. Watch for April-May inventory levels; additional supply without demand recovery would pressure the median below $270,000. Conversely, if absorption improves and DOM contracts to 55-60 days by summer, the negative price trajectory could flatten. The 18% above-list figure serves as the key momentum indicator for any directional change.