78202
San Antonio, Texas

The 78202 market is experiencing significant downward pressure, with the median sale price settling at $205,000 after a sharp 10.8% year-over-year decline. Properties are moving slowly at 169 days on market, nearly triple the typical San Antonio metro average. Only 13% of homes are commanding above-list prices, indicating weak buyer competition and a clear shift toward negotiation-favored conditions for purchasers in this near-downtown ZIP code.

This environment strongly favors patient cash buyers and value investors who can absorb extended holding periods without financing pressure. The 169-day DOM metric creates urgency among sellers, particularly those carrying two mortgages or facing relocation deadlines, making lowball offers more viable than in competing San Antonio submarkets. Owner-occupant buyers gain substantial negotiating leverage, though they must accept that recent comparable sales suggest continued near-term depreciation risk on their purchase.

The PropIQ score of 51 signals sustained caution, reflecting fundamentals that haven't found a price floor despite the 10.8% correction already absorbed. Key monitoring points include whether DOM begins contracting below 120 days and whether the above-list percentage climbs above 20%, neither of which current data suggests is imminent. Until inventory absorption accelerates or new buyer cohorts enter at these price levels, expect continued lateral-to-downward price movement through Q2 2026.