San Antonio, TX 78223 Real Estate Market Report

ZIP Code: 78223
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the 78223 area are approximately 6.46%, reflecting a stable market environment compared to the 2026 year-to-date average of 6.40%.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary indicator of recent market value is the median sold price 161,750, which reflects realized transactions and, in this market, appears softer than asking expectations down.

2. Extended time to sell—median days on market 166—combined with elevated inventory relative to sales suggests slower sales velocity and reduced liquidity; sellers may need to price more competitively to convert listings.

3. There is a notable gap between median listing price 232,500 and the median sold price 161,750, which may indicate pricing friction where seller expectations exceed recent transaction values.

4. Financing and rental context: current 30-year fixed mortgage rates are running about 6.46% in the area with moderate interest rate pressure, while median market rent is 1,475 and rent trends are down, which together suggest slower investor and rental demand near-term.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.