San Antonio, TX 78228 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Property Taxes

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.

Market Trends & Context

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

Key Findings

1. The neighborhood's primary market indicator is the median sold price of $178,570, which represents the most reliable recent transaction signal and, when compared to the median listing price of $220,000, highlights a notable seller-asking versus realized-sale gap that may indicate pricing friction and the need for sellers to align expectations with closed transactions.
2. The market shows slower sales velocity with a median days on market of 166, consistent with a cold market temperature and suggesting extended time-to-contract and more opportunity for buyer negotiation.
3. Market-level income and unit economics show a median price per square foot of $144 and a median market rent of $1,300; rent is trending down, which, coupled with the price-per-square-foot metric, suggests softening rental demand without implying specific yield or cap-rate outcomes.
4. Interest-rate conditions are a headwind: elevated interest rate pressure is present, with Current 30-year fixed mortgage rates at 6.6% versus a 5.5% average for early-2026 originations, and the price year-over-year trend is flat (flat), reinforcing a stabilizing but constrained price environment.

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.