78209 Real Estate Market Holds Steady
Compared to San Antonio
The 78209 real estate market continues to perform well compared to other areas of San Antonio. Data from the San Antonio Board of Realtors (SABOR) ranks 78209 as 17th out of 31 area markets in the “Hotness Ratio” for existing homes. These metrics measure pending listings as a percentage of active listings. In October 2024, buyers placed 28 listings under contract out of 239 active listings. Sellers closed on 50 homes during the month, with homes selling for an average of 93.6% of their original list prices.
Buyers Find Opportunities While Sellers Close Quickly
The market maintained six months of inventory in October, creating a borderline buyer’s market. This shift likely caused final sales prices to drop by more than 6% from their original list prices. Despite this, sellers benefited from fast turnaround times, as 78209 tied for third in San Antonio for the fewest average days to close—48 days.
Median Prices Adjust as Market Offers More Options
The median sales price in 78209 in October 2024 was $490,000, marking a 19 percent decrease from the $605,000 recorded last year. This decline may reflect the availability of a broader range of homes at various price points. Still, 78209 ranked as the fourth most expensive market in San Antonio based on median sales prices.
Luxury Sales Showcase Market Strength
Luxury home sales remain a cornerstone of 78209’s real estate strength. In October, sellers closed on 14 homes priced at $700,000 or higher. The highest sale was a 5,235-square-foot Terrell Hills estate featuring six bedrooms and five and a half baths. It sold for $2,949,500 in a cash transaction. At the other end of the spectrum, the least expensive sale was a 3-bedroom, 2-bath, 1,772-square-foot ranch-style home in Terrell Heights. It sold for $275,000 after spending 132 days on the market.
