78209 Real Estate Market: February Year-Over-Year Comparison

 

By Bruce X. Forey, REALTOR®, Portfolio KW

 

The 78209 real estate market saw some significant shifts between February 2024 and February 2025, with changes in pricing, market activity, and overall inventory levels. Whether you’re a buyer, seller, or investor, understanding these trends can help you make informed real estate decisions.

 

More Closed Listings

 

One of the most notable changes is the increase in closed listings, rising from 27 in February 2024 to 36 in February 2025, which is a 33% increase. This suggests that buyer demand is up, leading to more transactions despite fluctuating market conditions.

 

Mixed Trends

 

While home prices remain strong, there were some key shifts:

Average price declined from $576,785 in 2024 to $497,633 in 2025, a 13.7% decrease.

Median price fell from $475,000 to $451,500, reflecting a 4.9% decrease.

Price per square foot dropped from $261 to $247, a 5.4% decline.

This downward trend suggests that home values may be adjusting to current market conditions, potentially due to higher inventory levels and extended time on the market.

 

List Price Negotiability

 

Year over year, sellers received slightly less compared to their original list price. In February, the Close-to-Original List Price ratio dropped from 92.9% in 2024 to 91.3% in 2025. While still strong, this indicates that buyers have a bit more negotiating power compared to last year.

 

Market Activity & Inventory Levels

 

The overall market saw fluctuations in new and active listings:

New listings decreased from 71 in 2024 to 66 in 2025, showing a 7% drop.

Active listings surged from 205 to 208, reflecting a slight inventory increase.

Pending listings saw a significant drop, falling from 45 in 2024 to 38 in 2025, which may signal a slowdown in buyer urgency.

 

Homes Taking Longer to Sell

 

The days on market metric changed significantly, increasing from 80 days in 2024 to 98 days in 2025. This 22.5% increase indicates that homes are taking longer to sell, which could be due to more inventory, buyers being more selective, or market conditions requiring price adjustments.

 

Months of Inventory & Market Balance

 

The months of inventory fell slightly from 5.2 months in 2024 to 5 months in 2025, keeping the market relatively balanced. However, if inventory levels continue to grow, the market could tilt further in favor of buyers.

 

Key Takeaways for Buyers & Sellers

 

For buyers, this swing means more inventory, longer market times, and potential price negotiations, making it a good opportunity to enter the market. However, prices remain stable overall, meaning waiting too long could result in missed opportunities.

 

For sellers, the key takeaway is pricing strategically. With homes staying on the market longer and price reductions becoming more common, sellers should work with experienced real estate professionals to position their listings competitively and maximize appeal.

 

Final Thoughts

 

The 78209 real estate market continues to adjust to economic conditions and buyer demand. While home prices have moderated, market activity remains steady, and buyers have more opportunities to negotiate. Staying informed on market trends and pricing strategies will be essential for making the best real estate decisions in 2025. In the next edition of the ’09 Market Report, I’ll dive into the housing numbers for the first quarter of 2025. The data for this report is produced by the Texas Real Estate Research Center at Texas A&M University and provided through the San Antonio Board of Realtors.