San Antonio, TX

The market in ZIP 78249 is exhibiting cooling tendencies, evidenced by a modest decline in the median listing price over the most recent month and a notable year-over-year decrease in the pending ratio. While active listings have seen slight growth, a significant share of properties are experiencing price reductions, suggesting a shift in market dynamics.

The median listing price has experienced a slight month-over-month decrease of 0.5%, although it remains up 2.9% over the past year. Active listings have grown by 1.2% year-over-year, alongside an 11.1% increase in new listings over the same period. Median days on market have extended by 12.6% year-over-year to 58 days, indicating a slower absorption rate. The pending ratio currently stands at 0.27, a decline of 5.7% year-over-year, which reflects a reduced pace of sales compared to the inventory.

The extending median days on market and the year-over-year decrease in the pending ratio indicate a market where inventory is taking longer to convert to pending sales. The current 32.5% share of price-reduced properties suggests a need for greater price discipline among sellers to align with prevailing buyer expectations, leading to more room for negotiation.

The average listing price ($378,533) significantly exceeds the median listing price ($328,400), indicating a segment of higher-priced properties influencing the overall average. The median price per square foot is $168, reflecting a 3.3% year-over-year decrease, which may reflect shifting valuations within the upper echelons of the market or a compositional shift in properties sold.