San Antonio, TX 78223 Real Estate Market Report

ZIP Code: 78223
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in San Antonio, TX (ZIP: 78223) is $186,000, reflecting a market that has seen localized price softness. This price point indicates a shift in buyer sentiment, as the area has experienced a decrease in market activity. The overall market appears to be stabilizing, with a median listing price of $228,500, suggesting a notable gap between seller expectations and actual transaction values. This discrepancy may indicate a cautious approach from buyers amidst elevated inventory levels and longer market times.

Transaction velocity is currently slower, with properties spending a median of 187 days on market. This extended time frame may reflect a cooling buyer demand, as evidenced by the neutral market temperature and the down trend in year-over-year rent growth. The market is characterized by excess supply relative to sales activity, which could further influence pricing dynamics in the upcoming months.

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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.

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Key Findings

1. The median sold price of $186,000 indicates a potential pricing gap between seller expectations and buyer willingness, suggesting pricing friction in the market.

2. With a median listing price of $228,500, the market shows signs of softening as sellers may need to adjust expectations to align with buyer sentiment.

3. Properties are taking a median of 187 days on market, indicating slower sales velocity and a shift towards a more cautious buying environment.

4. The market temperature is currently neutral, reflecting a balance between supply and demand, yet suggesting caution for potential buyers and sellers alike.

5. Rental demand is experiencing a down trend year-over-year, which may lead to softening rental prices in the near future.

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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.