San Antonio, TX 78223 Real Estate Market Report

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

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Executive Overview

As of February 2026, the real estate market in San Antonio, TX (ZIP: 78223) is characterized by a median sold price of $198,170, reflecting a recalibration from previous highs. The market has seen a decrease in prices year-over-year, indicating a shift towards more favorable conditions for buyers. The median days on market has extended to 186 days, suggesting slower sales velocity and a potential adjustment period for sellers to align with current market realities.

Inventory levels are currently elevated, with a notable excess supply relative to sales activity. This trend may indicate a more balanced market, as the median listing price stands at $200,000, creating a pricing gap that could affect seller expectations. Despite elevated interest rate pressure, which remains a concern for affordability, the underlying economic fundamentals in the region are strong, preventing a significant downturn in the market.

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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

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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 San Antonio market average around 5.87% to 6.09%, which is notably lower than the 6.87% average seen one year ago in February 2025.

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 median sold price of $198,170 indicates a recalibration in market values, reflecting a decrease in prices year-over-year.

2. With 186 days as the median days on market, the market is experiencing slower sales velocity, suggesting a need for sellers to adjust expectations.

3. The median listing price of $200,000 shows a pricing gap that may create friction between seller expectations and buyer willingness, indicating potential pricing challenges.

4. Elevated inventory levels suggest an excess supply relative to sales activity, which may lead to a more balanced market environment.

5. Despite the median market rent of $1,631, which is stable, the downward trend in rent year-over-year may signal caution for landlords and investors.

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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.